Zambia raises rates for first time since 2015


The Bank of Zambia’s monetary policy committee has voted to raise the policy rate by 50 basis points, to 10.25%, in an attempt to control inflation.

In a statement on May 22, BoZ governor Denny Kalyalya said inflation is projected to rise above the bank’s target of 6–8% mainly due to the high price of maize grain and the depreciation of the Zambian kwacha.

The governor said “between April 1 and May 17, 2019, the kwacha depreciated by 14.9% to around K14 per US dollar” due to elevated demand

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: