Regulatory Alerts2018-01-01
Adjustments to the Statutory Reserve Ratio and Overnight Lending Facility Rate
The Bank of Zambia reduced its Overnight Lending Facility rate by 50 basis points to 15.75 percent and lowered the statutory reserve ratio on all deposit categories by 300 basis points to 5.0 percent. Effective February 26, 2018, these cuts decrease commercial banks' cost of funds and stimulate national credit growth. The central bank aligns these operational rates with its 9.75 percent Policy Rate to strengthen monetary policy signaling while maintaining readiness for future macroeconomic adjustments.
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