Zambia cuts rates amid improved inflation outlook
Inflation projected to continue trending towards lower end of target over medium term
Declining inflation and an improved budget deficit prompted the Bank of Zambia to lower both its statutory reserve ratio and policy rate at its latest monetary policy decision.
In a statement published on November 21, governor Denny Kalyalya announced the policy rate cut from 11% to 10.25%, and a 150 basis point cut to the statutory reserve ratio, bringing it to 8%.
“In arriving at this decision, the committee took into account that overall inflation declined to 6.6% at the end of the third
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