Regulatory Alerts2021-01-01
CB Circular No. 16/2021 Adjustment to the Policy Rate and Overnight Lending Facility Rate
The Bank of Zambia has increased its Policy Rate by 0.50 percentage points to 9 percent and raised the Overnight Lending Facility rate to 25.50 percent, effective immediately following its November 2021 Monetary Policy Committee meeting. This adjustment positions the Overnight Lending Facility rate at 16.50 percentage points above the Policy Rate, directly altering commercial banks' liquidity benchmarks and borrowing costs. All heads of commercial banks are required to implement these updated rates immediately across their operations.
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