- Bank of Zambia raises rate to curb inflation, targeting single-digit levels by 2025.
- Inflation driven by supply shortages, currency depreciation, and energy demands.
Lusaka, Zambia – Zambia’s central bank has raised its Monetary Policy Rate by 50 basis points to 14%, aiming to counter rising inflation as the government works toward achieving a single-digit rate next year. The decision was made by the Monetary Policy Committee (MPC) during its meeting on November 11-12, 2024.
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