Zimbabwe to unveil new monetary policy to curb hyper-inflated currency

HARARE, July 30 (Chinese media) -- The Zimbabwe central bank is expected to unveil a new monetary policy which is aimed at curbing the country's hyper-inflated currency, state media the Herald reported on Wednesday.

Central bank chief Gideon Gono is expected to introduce new strategies to address cash withdrawal limits, inflation and deal with zeros that have been accumulating on the local currency, the Herald said.

It will be his seventh monetary policy statement since he came to office in December 2003, the Herald said.

The central bank chief is expected to introduce news strategies to address economic imbalances, particularly inflation which is estimated at 2.2 million percent year-on-year last month, according to the newspaper.

Gono is also expected to delve into government expenditure, the newspaper added.