BoZ acts on inflation

DENNY Kalyalya.

THE Bank of Zambia has maintained the monetary policy at 9.75 percent to prevent inflation from rising above the targeted range of six to eight percent.
Bank of Zambia governor Denny Kalyalya said during a third quarter briefing yesterday that the monetary policy committee decided to maintain the rate because of continued fragilities in the financial sector as reflected in non-performing loans.
β€œThe monetary policy committee that met from November 19 to 20, 2018 decided to maintain the policy rate at 9.75 percent, although inflation is projected to exceed the upper bound of six to eight target range during the three quarters of the forecast period.
β€œIt is expected to return to the target range thereafter,” Dr Kalyalya said.

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