Regulatory Alerts2024-01-01
Bank of Zambia Circular No. 04/2024: Adjustment to the Policy Rate and Overnight Lending Facility Rate
The Bank of Zambia has immediately increased its Policy Rate by 150 basis points to 12.5 percent following the February 12–13 Monetary Policy Committee meeting. Consequently, the Overnight Lending Facility rate has been raised to 29 percent, positioning it 16.50 percentage points above the new Policy Rate. All commercial banks must implement these adjusted rates effective immediately.
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