Botswana’s central bank kept its monetary policy rate unchanged at 3.5% in a decision announced on Thursday.

It was the second meeting in a row that the Bank of Botswana maintained the rate, as it tries to keep inflation within its objective range of 3%-6% over the medium term.

Inflation in the Southern African country accelerated to 4.1% year-on-year in January from 3.9% in December.

The country’s economy has been under strain and is believed to have contracted for the past two years because of a prolonged slump in the global market for diamonds, its key export.

–Reuters–