UPDATE 1-Botswana central bank leaves policy rate unchanged

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GABORONE, Nov 7 (Reuters) – Botswana’s central bank kept its monetary policy rate unchanged at 1.90% on Thursday.

The decision follows rate cuts at the last two monetary policy meetings. It is the first decision since voters in Botswana elected a new president last week, pushing out the party that had ruled the country for nearly six decades.

Inflation has eased sharply in the southern African country, dropping to 1.5% year on year in September from 3.9% a month before. The Bank of Botswana prefers inflation between 3% to 6% in the medium term.

(Reporting by Brian Benza; Writing by Bhargav Acharya; Editing by Alexander Winning)

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