Regulatory Alerts2023-01-01
Bank of Zambia Adjusts Policy Rate and Overnight Lending Facility Rate
The Bank of Zambia has increased its Policy Rate by 25 basis points to 9.50 percent and raised the Overnight Lending Facility rate to 26.0 percent, effective immediately following its May 15–16 Monetary Policy Committee meeting. The Overnight Lending Facility rate now stands 16.50 percentage points above the Policy Rate, directly impacting all commercial banks operating in Zambia. This circular formally notifies commercial bank heads of these adjustments to ensure immediate compliance with the updated monetary policy framework.
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