Stable inflation keeps policy rate at 9.7%


THE Bank of Zambia (BoZ) has maintained the policy rate for two consecutive quarters at 9.75 percent due to inflation remaining within trajectory levels of between six and eight percent.BoZ Governor Denny Kalyalya said despite inflation edging up in the second quarter, it remained within the target range of six to eight percent.
“The decision to maintain the policy rate at 9.75 percent was therefore finely balanced against that of raising it. In this regard, the Bank of Zambia will continue to closely monitor domestic and external sector developments.
“It stands ready to take appropriate measures to maintain price and financial system stability, and ultimately support economic growth,” he said.

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