博茨瓦纳哈博罗内指数 (Gaborone) 加自选

博茨瓦纳中央银行在2025年10月30日举行的例行会议上将基准利率上调160个基点至3.5%。这标志着自2022年6月以来的首次加息，在通胀压力加剧的迹象下，借贷成本达到2022年3月以来的最高水平。博茨瓦纳的年通货膨胀率在2025年9月连续第二个月加速至3.7%，为2024年8月以来的最高水平，而上个月为1.4%。

The Central Bank of Botswana raised its benchmark interest rate by 160 bps to 3.5% during its regular meeting held on October 30, 2025. This marked the first rate hike since June 2022, bringing borrowing costs to their highest since March 2022, amid signs of stronger inflationary pressures. The annual inflation rate in Botswana accelerated for the second month to 3.7% in September 2025, the highest since August 2024, from 1.4% in the previous month.

穆迪评级将博茨瓦纳的长期本币和外币发行人评级从A3下调至Baa1，维持负面展望。降级反映了钻石行业在适应结构性衰退方面的挑战，钻石行业约占国内生产总值的30%和商品出口的90%，导致经济收缩、外部缓冲减弱和债务增加。自2025年4月以来，全球钻石市场持续低迷，该行业作为增长和外汇收入的引擎仍然难以取代。穆迪预计，政府将逐步实施协调一致的政策，债务将达到GDP的40%左右，尽管外部和国内风险依然存在。随着政府金融资产接近枯竭，博茨瓦纳越来越容易受到更高利率和进一步债务压力的影响。

Moody’s Ratings downgraded Botswana’s long-term domestic- and foreign-currency issuer ratings to Baa1 from A3, maintaining a negative outlook. The downgrade reflects challenges in adjusting to a structural downturn in the diamond industry, which accounts for about 30% of GDP and 90% of goods exports, leading to economic contraction, weaker external buffers, and rising debt. Since April 2025, the global diamond slump has persisted, and the sector remains difficult to replace as an engine of growth and foreign exchange earnings. Moody’s expects the government to gradually implement coordinated policies, with debt peaking around 40% of GDP, though external and domestic risks remain. With government financial assets nearly depleted, Botswana is increasingly vulnerable to higher interest rates and further debt pressures.

博茨瓦纳的年通货膨胀率从上个月的1.4%加速至2025年9月的3.7%，为2024年8月以来的最高水平。运输成本大幅反弹（8月份为5.7%对-1.6%），食品和非酒精饮料价格上涨（5.4%对5.0%），杂项商品和服务价格上涨（8.5%对7.9%），服装和鞋类价格上涨（3.5%对3.2%），家具和家用设备价格上涨（4.1%对3.6%），酒精饮料和烟草价格上涨（8.1%对6.5%），餐馆和酒店价格上涨（2.9%对2.7%），健康价格上涨（2.3%对2.0%）。与此同时，住房和公用事业成本继续下降，但速度较慢（-3.0%对-3.7%）。按月计算，9月份消费者价格指数上涨1.6%，为两年来最高涨幅，8月份上涨0.5%。

The annual inflation rate in Botswana accelerated to 3.7% in September 2025 from 1.4% in the previous month, marking the highest level since August 2024. The increase was driven by a sharp rebound in transport costs (5.7% vs -1.6% in August), alongside higher prices for food and non-alcoholic beverages (5.4% vs 5.0%), miscellaneous goods and services (8.5% vs 7.9%), clothing and footwear (3.5% vs 3.2%), furnishings and household equipment (4.1% vs 3.6%), alcoholic beverages and tobacco (8.1% vs 6.5%), restaurants and hotels (2.9% vs 2.7%), and health (2.3% vs 2.0%). Meanwhile, housing and utilities costs continued to decline, though at a slower pace (-3.0% vs -3.7%). On a monthly basis, consumer prices jumped 1.6% in September, the highest increase in two years, following a 0.5% rise in August.

博茨瓦纳经济在2025年第二季度同比暴跌5.3%，在第一季度修正后下降0.4%后，连续第六个季度出现下滑。这是自2020年第二季度以来最严重的经济收缩，因为钻石需求的长期低迷给经济带来了压力。采矿和采石业暴跌37.8%，主要原因是钻石产量下降41.3%，煤炭产量下降2%。其他负面因素包括钻石交易商（-46.5%对-36.2%）；水电（-6.6%对-29%）和制造业（-0.5%对-1%）。除建筑业外，所有其他行业都实现了稳健增长，边际增长率为0.3%。按季度计算，第二季度国内生产总值下降了3.6%，是自2020年第二季度以来的最大跌幅，此前一季度修正后下降了0.2%。

The economy of Botswana plunged by 5.3% year-on-year in Q2 2025, extending the downturn into a sixth consecutive quarter following a revised 0.4% decline in Q1. This was the steepest economic contraction since Q2 2020, as a prolonged slump in diamond demand pressures the economy. The mining and quarrying sector tumbled 37.8%, mainly due to a 41.3% drop in diamonds and a 2% decline in coal production. Other negative contributors included diamond traders (-46.5% vs -36.2%); water & electricity (-6.6% vs -29%) and manufacturing (-0.5% vs -1%). All other industries recorded solid growth , except construction, with marginal growth of 0.3%. On a quarterly basis, the GDP slumped by 3.6% in Q2, the most since Q2 2020, after a revised 0.2% decline in the prior period.