Business

BoZ attempts to mop out K115 million through market

BOZ

CYNTHIA MWALE, Lusaka
THE Bank of Zambia (BoZ) was on Thursday trying to mop out K115 million through the market, which was cash-tight as the Kwacha maintained its upward slope after breaching the K9.6 mark.

Financial analysts have indicated that the central bank is likely to continue to regulate the market in an attempt to stabilise the local unit as well as to balance inflation and interest rates after statutory reserve ratio (SRR) and monetary policy rates (MPR) were reduced.

BoZ has reduced the SRR, which is the amount of liquid assets that firms must hold to remain solvent to11 percent from 12.5 percent, and also cut the MPR to 9.5 percent from 12.5 percent.
The monetary policy consists of the actions of a READ MORE

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