Zambia MPC holds rates despite stability concerns
New governor notes a cut to interest rates would have been “expected”
The Bank of Zambia’s monetary policy committee voted to leave interest rates on hold, despite concerns financial stability remains fragile.
In a statement today (November 18), governor Charles Mvunga said the central bank was aware imbalances in the economy remained. “Inflationary pressures have persisted, growth is anemic and fragilities in the financial sector have not abated,” he said. This was Mvunga’s first monetary policy meeting since being appointed in September.
The governor noted
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