THE Bank of Zambia has cut its benchmark lending rate by 150 basis point to 12.5 percent.
Governor Denny Kalyalya said today during a briefing in Lusaka, citing lower inflation and subdued economic growth.
Among the principal reasons the monetary policy committee considered is the continued decline in inflation,
Dr Kalyalya said.
Zambia’s inflation was flat at 6.7 per cent year-on-year in April, the statistics office said last month.
It has maintained its steady decline from more than 20 per cent a year ago.