Regulatory Alerts2026-05-13
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CB Circular No. 07/2026: Adjustment to the Policy Rate and Overnight Lending Facility Rate
The Bank of Zambia has reduced its Policy Rate by 25 basis points to 13.25 percent and lowered the Overnight Lending Facility Rate to 29.75 percent, effective immediately following the May 11–12 Monetary Policy Committee meeting. The overnight lending rate is now positioned 16.50 percentage points above the new policy rate. All commercial banks must apply these updated rates immediately to comply with the directive.
BANK OF ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/fmk/bp
May 13, 2026
CB Circular No. : 07/2026
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 May 11 – 12, 2026, commercial banks are hereby advised that, with immediate effect, the Bank of Zambia Policy Rate has been reduced by 25 basis points to 13.25 percent.
Consequently, the Overnight Lending Facility Rate has also reduced to 29.75 percent, that is 16.50 percentage points above the prevailing Bank of Zambia Policy Rate.
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
cc Governor
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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