Zambia’s Central Bank Cuts Lending Rate To 10.25 Percent

By Chris Mfula

Zambia Kwacha

Zambia’s central bank cut its benchmark lending rate by 75 basis points to 10.25 percent on Wednesday, citing declining consumer inflation, the high cost of credit and low growth.

“Inflation has continued to decline over the last 10 months. We also noted that the cost of credit has been high and growth has been sluggish,” Bank of Zambia governor Denny Kalyalya said.

(Writing by TJ Strydom; Editing by James Macharia)

Source: af.reuters.com

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