Regulatory Alerts2026-01-01
Adjustment to the Policy Rate and the Overnight Lending Facility Rate
The Bank of Zambia has immediately reduced its Policy Rate by 75 basis points to 13.50 percent following its February 9–10, 2026 Monetary Policy Committee meeting. This adjustment simultaneously lowers the Overnight Lending Facility rate to 30.00 percent, maintaining a 16.50 percentage point spread above the new policy rate. All commercial banks are directed to implement these revised rates effective immediately.
# Bank of Zambia
## OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/fmk/bp
February 11, 2026
CB Circular No. : 03/2026
To : All Heads of Commercial Bank
## ADJUSTMENT TO THE POLICY RATE AND THE OVERNIGHT LENDING FACILITY RATE
Following the Monetary Policy Committee meeting held from February 9 – 10, 2026, commercial banks are hereby advised that, with immediate effect, the Bank of Zambia Policy Rate has been reduced by 75 basis points to 13.50 percent. Consequently, the Overnight Lending Facility rate has also reduced to 30.00 percent, that is 16.50 percentage points above the prevailing Bank of Zambia Policy Rate.
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
cc Governor
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Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm
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