BoZ adjusts Monetary Policy Rate
By ANDREW MULENGA – THE Bank of Zambia (BoZ) has raised the Monetary Policy Rate (MPR) by 50-basis points from 13.5 per cent to 14-per cent to steer the rising inflation back towards to six-to-eight per cent target.The Central Bank has posted an increase in the gross international reserves to US$4.15 billion as at September […]
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By ANDREW MULENGA –
THE Bank of Zambia (BoZ) has raised the Monetary Policy Rate (MPR) by 50-basis points from 13.5 per cent to 14-per cent to steer the rising inflation back towards to six-to-eight per cent target.
The Central Bank has posted an increase in the gross international reserves to US$4.15 billion as at September this year from US$3.91 billion in June, 2024.
BoZ governor Denny Kalyalya said that the increase in the policy rate was necessitated by actual and projected inflation continuing to remain above the target band.
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