Bank of Zambia (BoZ) Governor Dr. Denny K. Kalyalya’s Wednesday 19th August 2020 Monetary Policy Committee (MPC)Media Statement
Bank of Zambia MONETARY POLICY COMMITTEE STATEMENT Monetary Policy Rate cut by afurther 125 basis points to 8.0% At its August 17-18, 2020 Meeting, the Monetary Policy Committee (MPC) lowered the Monetary Policy Rate by a further 125 basis points to 8.0% to safeguard the stability of the financial sector, peoples ‘ lives and livelihoods in the wake ofthe COVID-19 pandemic. Although projected to remain above the upper bound of the 6-8% medium-term target range, inflation is expected to steadily decline and reach the upper bound by the end of the forecast horizon]. This is premised on the expected...