Bank of Zambia
Zambia raises rates for first time since 2015
Governor hopes to prevent inflation rising above 6–8% target
Zambia deputy governor emphasises importance of female financial inclusion
Survey data reveals extent of gender disparity in market
Bank of Zambia urges country to embrace financial technology
Zambian payments app becomes integrated with Visa and MasterCard
New Zambian banknotes cause trouble for ATMs
Central bank advises public to deposit new notes at banks due to a delay in ATM calibration
People: Finland’s Rehn confirmed; Kalyalya gets extension
Olli Rehn gets top job at Finnish central bank; Denny Kalyalya handed additional five years as head of Bank of Zambia
Zambia cuts rates amid improved inflation outlook
Inflation projected to continue trending towards lower end of target over medium term; governor praises government efforts to rein in deficit
Bank of Zambia to revamp ‘outdated’ supervisory framework
IMF praises the central bank’s efforts to inspect banking sector following overhaul of monetary policy framework in last 12 months
Bank of Zambia outlines resolution plan for failed lender
Balances of 99.8% of IBC depositors will be restored in full under new arrangement, which will see creation of new commercial bank
Zambia cuts interest rates again
Monetary tightening has tamed inflation but squeezed financial sector – IMF
Plummeting inflation prompts Bank of Zambia action
Central bank cuts policy rate by 150bp, in addition to a cut to the overnight lending rate and reserve ratio; inflation falls from over 18% to 7% in a matter of months
Bank of Zambia closes fourth bank this quarter
Commercial bank deemed insolvent by the regulator; Bank of Zambia takes over control of the institution to “safeguard” depositors
Bank of Zambia begins liquidating three financial institutions
Commercial Leasing Zambia, Cetzam Financial Services and Genesis Finance to close with immediate effect; those affected have 30 days to file objection to the courts
Bank of Zambia expects ‘sharp decline’ in inflation
Monetary policy stance having “desired” results, according the MPC, minutes from latest meeting show; bank leaves rate on hold at 15.5%
Zambia hikes by 300bp as inflation almost doubles
Bank of Zambia increases policy rate to 15.5% in an effort to keep inflation expectations anchored in single digits; annual inflation jumps to 14.3% in October as kwacha slides
Kalyalya: Bank of Zambia will revamp communications
New governor tells press the central bank will look to establish ‘more structured and regular’ communications with the public; sets out economic challenges and opportunities
Kalyalya replaces Gondwe as Bank of Zambia governor
Former deputy governor Denny Kalyalya replaces Michael Gondwe at the helm of the central bank, after new president decides he wants a change at the top
Zambian governor fears shariah scholar shortage
Michael Gondwe identifies challenges to the growth of Islamic finance in Zambia, which he believes is necessary to provide affordable products and services to the population
Zambia’s Gondwe lauds interventions to support kwacha
Michael Gondwe declares success in Bank of Zambia’s use of monetary policy to shore up a sliding kwacha; says central bank now in a position to loosen tight liquidity conditions
Bank of Zambia holds interest rate as inflation stabilises
First MPC meeting of new quarterly schedule sees no change in policy; bumper maize harvest and a stabilising exchange rate credited with lowering inflation
Zambia governor opens conference on financial inclusion for women
Michael Gondwe says deliberate policies and a long-term commitment will be needed to ensure financial inclusion for all Zambia's women
Zambia warns speculators the kwacha is on the up
Bank of Zambia warns the public not to speculate on the continued fall in the kwacha's value, as economic fundamentals point to appreciation
Bank of Zambia moves to quarterly MPC meetings
Central bank reduces number of planned MPC meetings each year in an effort to produce ‘more meaningful’ analysis with a ‘longer time perspective’
Bank of Zambia holds seminar for local journalists
The Bank of Zambia held a three-day seminar for journalists at a holiday resort last week, impressing on them their responsibility to provide accurate information on the economy
People: RBI executive director retires; top law award for Zambian deputy
G Gopalakrishna retires after 33 years with the RBI; Zambia's Tukiya Kankasa-Mabula recognised for legal achievements; and more