- Inflation drops sharply to 9.4% in January
- Reserves rise to $5.5bn despite lower import cover
LUSAKA, ZAMBIA – Zambia’s central bank has cut its benchmark interest rate by 75 basis points to 13.5%, citing faster-than-expected inflation declines and improved macroeconomic stability.
The decision, announced Wednesday by Bank of Zambia (BoZ) Governor Denny Kalyalya following a Monetary Policy Committee (MPC) meeting in Lusaka, reflects growing confidence that inflation is easing sustainably.
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