{"id":57063,"date":"2022-04-07T18:14:58","date_gmt":"2022-04-07T16:14:58","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-100-banknote-wont-be-inflationary-mangudya"},"modified":"2022-04-07T20:22:38","modified_gmt":"2022-04-07T18:22:38","slug":"new-100-banknote-wont-be-inflationary-mangudya","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/new-100-banknote-wont-be-inflationary-mangudya","title":{"rendered":"New $100 Banknote Won\u2019t Be Inflationary \u2013 Mangudya"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said that the soon to be introduced new $100 banknotes will not be inflationary.<\/p>\n

Mangudya said the higher denomination will improve convenience for the transacting public as the use of small-value denominations is not convenient anymore due to rising inflation. Said Mangudya:<\/p>\n

It\u2019s not going to cause inflation because we are not printing any new money.<\/p>\n

Individuals and businesses can only access cash based only on what they have in their bank accounts.<\/p>\n

Economic analyst Gift Mugano echoed similar sentiments adding that monetary authorities will not print new money but replace bond notes with Zimbabwe dollars. He said:<\/p>\n

The rationale behind the introduction of the $100 banknote is based on the inflationary pressures which are eroding the value of money.<\/p>\n

So the $100 note will be accommodative in that money should be convenient to the public.<\/p>\n

The impact of this will be insignificant in that the authorities are not printing more money but replacing the bond notes with the Zimbabwe dollar.<\/p>\n

However, the introduction of the $100 banknotes may be counterproductive due to behavioural issues as businesses tend to increase prices whenever a higher denomination is introduced. Said Mugano:<\/p>\n

I would agree with the Reserve Bank Governor when he says this inflation is driven by behavioural changes.<\/p>\n

So, as the $100 note is introduced (and) the behaviour out there in the market changes, there is a tendency of raising prices when a new note of higher denomination is introduced.<\/p>\n

When that happens, the intention of the authorities becomes null and void.<\/p>\n

Meanwhile, the Reserve Bank of Zimbabwe has not specified the date for the introduction of the new note.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said that the soon to be introduced new $100 banknotes will not be inflationary. Mangudya said the higher denomination will improve convenience for the transacting public as the use of small-value denominations is not convenient anymore due to rising inflation. Said Mangudya: It\u2019s not […]<\/p>\n","protected":false},"author":84,"featured_media":57062,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,35,12,15],"tags":[9308,1493,2189,9309,8693,2062,19],"class_list":{"0":"post-57063","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-homepage-english","9":"category-policy","10":"category-twitter","11":"tag-100-banknote","12":"tag-africa-press","13":"tag-africa-press-zimbabwe-2","14":"tag-banknotes","15":"tag-gift-mugano","16":"tag-john-mangudya","17":"tag-zimbabwe"},"yoast_head":"\nNew $100 Banknote Won\u2019t Be Inflationary \u2013 Mangudya - zimbabwe<\/title>\n<meta name=\"description\" content=\"Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said that the soon to be introduced new $100 banknotes will not be ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-100-banknote-wont-be-inflationary-mangudya\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New $100 Banknote Won\u2019t Be Inflationary \u2013 Mangudya\" \/>\n<meta property=\"og:description\" content=\"Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said that the soon to be introduced new $100 banknotes will not be ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-100-banknote-wont-be-inflationary-mangudya\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-07T16:14:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-07T18:22:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/04\/img-624f2b7edd7d7.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-100-banknote-wont-be-inflationary-mangudya\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-100-banknote-wont-be-inflationary-mangudya\",\"name\":\"New $100 Banknote Won\u2019t Be Inflationary \u2013 Mangudya - 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