Mutati advises commercial banks

Felix Mutati – Finance Minister

Finance Minister Felix Mutati has advised commercial banks to respond aggressively towards the reduction of the reserve ratio.

Mr. Mutati tells QTV News that the reduction in policy rates has already started bearing fruits, but the struggle remains on how banks will respond towards it.

He says banks should now be able to bring down the cost of money because they have enough liquidity with the reduced policy rates.

Mr. Mutati has stated that the reduction, coupled with the tax amnesty is slowly creating the revival of activities in the private sector.

He has since described the country’s economy as cheerful as such measures will create jobs and business opportunities.