Tue, 20 Jun 2017 13:37:52 +0000 By kelvin Chungu The Kwacha has been stable for close to a year, while the Inflation rate has reduced to 6.5% at the end of May 2017 from 7.5% at the end of December 2016. The relative macroeconomic stability that has been attained this year calls for broad consideration of the level of lending rates charged by commercial banks, if we are to see tangible growth from our productive sectors in Zambia. In March 2017, I wrote about the reasons for the prevalent high lending rate regime charged by the commercial banks in Zambia relative to the lending rates obtaining in neighbouring countries of about 7.5% to 12%. Subsequently, the Bank of Zambia in its May 2017 policy statement, reduced its monetary policy rate to 12.5% from 14% and the statutory reserve ratio from 15.5% to 12.5% in a move aimed at allowing more liquidity in the economy to […]
While high interest rates persist, where are the Chambers voices?
