Lusaka, Zambia – The Bank of Zambia has increased the Monetary Policy Rate to 14% from 13.50%. This decision, announced by the Monetary Policy Committee, aims to address persistent inflationary pressures and steer the economy towards stability.
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The increase in the policy rate is expected to help manage inflation and support economic growth by making borrowing more expensive, thereby reducing spending and investment. The Bank of Zambia emphasized the importance of prudent resource management and maintaining financial stability to improve the livelihoods of Zambians.
