Bank of Zambia moves to quarterly MPC meetings

The Kwacha fell 10.7% against the dollar in the past three months

The Bank of Zambia held its policy rate at 12% yesterday – the central bank's first rate decision since announcing it would halve the number of monetary policy committee (MPC) meetings its holds each year.

Earlier this week, the central bank announced the MPC would cease to meet on a monthly basis, and hold quarterly meetings each year instead. It will also hold an additional two meetings "to assess developments at the beginning and end of each year".

The Bank of Zambia said this would enable

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