GABORONE- Botswana’s central bank has cut the bank rate by 50 basis points, down from 4.25 percent to 3.75 percent, after a Monetary Policy Committee (MPC) meeting on Thursday in the capital, Gaborone. Moses Pelaelo, governor of the Bank of Botswana, said the current state of the economy and the outlook for both domestic and external economic activity provide scope for further easing monetary policy to support domestic economic activity. “Accordingly, the MPC decided to reduce the bank rate by 50 basis points to 3.75 percent,” he said. Commercial banks are required to make the necessary interest rate adjustments with immediate effect to reflect this policy decision, Pelaelo said.