Regulatory Alerts2017-01-01
Adjustments to the Statutory Reserve Ratio and the Overnight Lending Facility Rate
The Bank of Zambia has reduced the Overnight Lending Facility rate by 0.75 percentage points to 16.25 percent, effective immediately following a policy rate change. The statutory reserve ratio on local and foreign currency deposits, including government and vostro accounts, has been lowered by 1.50 percentage points to 8.0 percent, taking effect on November 27, 2017. These adjustments aim to reduce the cost of funds for commercial banks and stimulate broader credit growth across the Zambian economy.
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