For fiscal policy, tax changes that alter withholding probably operate within a quarter or two, though those that raise spending such as for construction can take many years to plan routes, purchase land, let contracts and the like. The upshot of all of this is that it does seem possible to use monetary policy as an effective stabilization instrument.
OFFICIAL LAUNCH OF BBS LIMITED PALAPYE BRANCH Keynote Speech by Moses D Pelaelo Governor, Bank of Botswana November 26, 2018  It is an honour and a great pleasure to join you here this morning for the official opening of Botswana Building Society Limited (BBS), Palapye Branch. Palapye is evidently one of the fastest growing villages in the country.