Zambia cuts rates by 75bp to 13.5%
Inflation expected to fall to within target range by next quarter, central bank governor says
The Bank of Zambia has lowered its policy rate by 75 basis points, after inflation fell sharply in January.
In a statement on February 11, Denny Kalyalya, the central bank governor, noted that year-on-year headline inflation in Zambia was 9.4% in January, down from 11.2% in December.
“The decline in inflation has largely been driven by the continued impact of the maize bumper harvest from the 2024–25 farming season and the appreciation of the kwacha against major currencies,” he said.
Kalyalya
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