Botswana's central bank lowered its main interest rate by 25 basis points to 2.40% in a decision announced on Thursday.

Inflation in the southern African country fell slightly to 3.1% in October from 3.2% in September, within the central bank's preferred range of 3% to 6%.

The country's Monetary Policy Rate had been at 2.65% since August 2022. (Reporting by Brian Benza, Writing by Bhargav Acharya and Tannur Anders; Editing by Alexander Winning)