Maseru, Jan.30 — The Monetary Policy Committee of the Central Bank of Lesotho (CBL) held its 105th meeting where it deliberated on the latest global, regional and domestic economic developments as well as the developments in the financial markets.
Speaking at the Press briefing held in Maseru on Tuesday, the Governor of the Central Bank of Lesotho Dr. Maluke Letete said that from the meeting, having considered the Net International Reserves (NIR) developments and outlook, regional inflation and interest rates, domestic economic conditions and the global economic outlook, the committee has taken into consideration a number of decision which are believed to be of benefit to the nation as per the global impacts.
He said that such decisions include the increase of the NIR target to US$750 million from US$710 million which he said is expected to be sufficient to maintain the one-to-one exchange rate peg between Loti and the Rand. . .