Botswana’s central bank lowered its policy rate to 1.9% from 2.15%, citing the economic conditions and the need to stimulate economic and financial sector growth. The bank assesses inflation risks as balanced. Headline inflation rose to 3.7% in July, up from 2.8% in June, but within the bank’s medium-term target range of 3% to 6%. Inflation is forecast to average 3% in 2024, down from June’s meeting estimate of 3.6%.