November 20, 2019 / 10:04 AM / 21 days ago

Zambia raises benchmark lending rate by 125 basis points to 11.5%

LUSAKA, Nov 20 (Reuters) - Zambia’s central bank raised the country’s benchmark lending rate by 125 basis points to 11.5% on Wednesday, citing rising consumer price inflation and the need to restore macroeconomic stability.

“If we don’t take any action, inflation will remain outside the target range,” governor Denny Kalyalya said at a briefing in Lusaka.

Zambia’s CPI rose to 10.7% year-on-year in October from 10.5% in September. (Reporting by Chris Mfula; Writing by Emma Rumney; Editing by Olivia Kumwenda-Mtambo)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below