By, Jan. 31 -- Thoboloko Ntsonyane
MASERU- The Central Bank of Lesotho (CBL) has during its 105th Monetary Policy Committee (MPC) meeting resolved to increase the net international reserves (NIR) target to US$750 million (M14.1 billion) from US$710 (13.4 billion).
Dr Maluke Letete, the Governor of the Central Bank of Lesotho (CBL) said this upward adjustment is so that Loti remains pegged to the South African Rand.
The Committee has further maintained the CBL rate at 7.75 per cent per annum.
Also, the Chairperson of the MPC, Dr Letete highlighted that the domestic economic activity that was estimated to have contracted in November last year, following a stronger growth in the preceding month.
"Headline inflation increased to 7.2 per ce...