Central bank to cushion liquidity

BOZ building.

AFTER being absent on the open market operations (OMOs) for a while, the central bank on Tuesday was present to cushion falling liquidity, which stood at about K260 million to help strengthen the Kwacha.
The Bank of Zambia (BoZ) was on the OMO, which is an activity by the central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks.
“Commercial banks’ aggregate current account decreased by K258.80 million to K1,268.81million while the overnight borrowing and lending rate decreased by 0.01 percentage point to 10.03 percent .Total funds traded on interbank were K60.00 million.
“Meanwhile, the central bank was still conducting OMO and was in the….

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