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Zambia's central bank cuts benchmark lending rate to 14 percent
February 22, 2017 / 8:48 AM / 8 months ago

Zambia's central bank cuts benchmark lending rate to 14 percent

LUSAKA, Feb 22 (Reuters) - Zambia’s central bank cut its benchmark lending rate by 150 basis point to 14 percent, governor Denny Kalyalya said on Wednesday.

“Inflation has declined to single digits and is projected to trend below the 2017 target of 9 percent,” he told a media briefing.

Zambia’s inflation slowed to 7.0 percent year-on-year in January from 7.5 percent in December, the statistics office said last month. (Reporting by Chris Mfula; Writing by TJ Strydom; Editing by James Macharia)

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