Regulatory Alerts2019-01-01
Bank of Zambia Circular No. 04/2019: Adjustment in the Overnight Lending Facility Rate
The Bank of Zambia has immediately increased the Overnight Lending Facility rate from 600 to 775 basis points above its Policy Rate. Commercial banks must submit a written explanation detailing the utilization of accessed funds to the Director – Bank Supervision by the close of the following business day. This adjustment aligns with the central bank’s monetary policy stance to curb inflationary pressures and will be subject to ongoing macroeconomic monitoring.
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