August 10, 2017 / 8:54 AM / 2 months ago

Zambia's central bank cuts lending rate to 11 percent

LUSAKA, Aug 10 (Reuters) - Zambia’s central bank cut its benchmark lending rate by 150 basis points to 11 percent on Thursday, citing lower consumer inflation and weak growth.

“Inflation has been declining and we see that it will remain within the medium term target range of 6-8 percent. We also noted that economic growth has been sluggish,” said Bank of Zambia governor Denny Kalyalya.

Reporting by Chris Mfula; Writing by Mfuneko Toyana; Editing by James Macharia

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