Fri, 23 Feb 2018 08:57:31 +0000 By BUUMBA CHIMBULU INTEREST rates on all loans linked to the monetary policy rate are expected to scale down by 50 basis points following the Bank of Zambia’s decision to cut lending rates for the fifth consecutive time, to the lowest in four years. And First National Bank (FNB) Zambia expects the development to stabilise the Kwacha and increase liquidity in the market. On Wednesday this week, the central bank reduced the monetary policy rate by 50 basis points to 9.75 percent from 10.25 percent and the Statutory Reserve Ratio by 300 basis points to 5.0 percent from 8.0 percent. Commenting on the development, the Bankers Association of Zambia (BAZ) said with the pumping in of more liquidity into the market through the reduction in the Statutory, the cost of funds was expected to significantly reduce. BAZ public relations officer, Mirriam Zimba, explained that the development would have an […]
Interest rates on all loans linked to monetary policy rate to fall-BAZ
