By Musonda Kalumba
Economist Kelvin Chisanga says it will be difficult for banks to lower their interest rates considering that the economy is still running with uncertainties.
During the Business Expo in Western Province recently, President Hakainde Hichilema challenged banks to lower their interest rates as government has done its part by stabilizing the currency and exchange rate.
But Mr. Chisanga is of the view that while the forex market may be stable, it is most likely that the country may go into double digits inflation considering what is obtaining on the ground both domestically and globally.
Mr. Chisanga however notes that lowered interest rates are good to enhance productivity in the country, but that there is a need to look at how the country can sustain financial stability.
CREDIT: PHOENIX NEWS