FNB anticipates buoyant recovery

FIRST National Bank (FNB) Zambia anticipates a more buoyant economic recovery due to an injection of cheap credit following the intervention by the central bank to reduce the policy rate and statutory reserves ratio (SRR).

Last week, the Bank of Zambia (BoZ) lowered the monetary rate and SRR to 10.25 percent from 11 percent and 8.0 percent from 9.5 percent respectively due to positive macroeconomic fundamentals.

The reductions are attributed to continued low inflation, currently at 6.6 percent, high credit cost and sluggish economic growth, among other factors.
FNB Zambia chief executive officer Leonard Haynes said the bank has since lowered its…

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