Regulatory Alerts2002-01-01
CB Circular 21/2002: Statutory Reserve Ratios
The Bank of Zambia has raised the minimum statutory reserve ratio on Kwacha and foreign currency deposit liabilities from 15 percent to 17.5 percent. This 2.5 percentage point increase becomes effective on December 26, 2002, to contain excessive money market liquidity and curb emerging inflationary pressures. The central bank maintains the authority to adjust these ratios further as necessary to manage macroeconomic stability.
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