Botswana says to raise bank reserve requirements

Reuters: "Botswana's central bank on Tuesday said it would raise banks' primary reserve requirement to 10% from 6.5% to reduce excess liquidity. 'Normally, an increase in the primary reserve requirement ratio implies monetary policy tightening,' the bank said in an statement. 'However, in this instance, the increase is unlikely to constrain supply of credit as, by definition, the funds mopped through the Bank of Botwana Certificates are 'excess' to what is required for productive lending.'"