Zambia raises rates for first time since 2015
Governor hopes to prevent inflation rising above 6–8% target
The Bank of Zambia’s monetary policy committee has voted to raise the policy rate by 50 basis points, to 10.25%, in an attempt to control inflation.
In a statement on May 22, BoZ governor Denny Kalyalya said inflation is projected to rise above the bank’s target of 6–8% mainly due to the high price of maize grain and the depreciation of the Zambian kwacha.
The governor said “between April 1 and May 17, 2019, the kwacha depreciated by 14.9% to around K14 per US dollar” due to elevated demand
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com