Regulatory Alerts2014-01-01
Maximum Effective Annual Lending Interest Rates
The Bank of Zambia has adjusted the calculation factor for maximum effective annual lending interest rates from 1.0 to 1.78, effective immediately. This adjustment caps the maximum lending rate at 28.0 percent, calculated using a 9.0 percent margin and the May 2014 policy rate of 12.0 percent. The central bank will continuously monitor financial market developments and revise the applicable factor or margin in response to shifting economic fundamentals.
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