By Jackson Mapapayi The chamber of commerce in North-Western Province has described the upward adjustment of the Monetary Policy Rate (MPR) by the Bank of Zambia as a contractionary measure aimed at controlling inflation pressure.Chamber president Mukumbi Kafuta said this is because of late there has been a lot of pressure in terms of inflation hence increasing the MPR.Mr Kafuta stated that the upward adjustment has been done to slow the growth of the money supply on the market.He said this is important in that it will slow economic growth while at the same time keeping commodity prices in check.“In other words that’s a measure that will make prices not to escalate so much,” said Mr Kafuta.He said the adjustment is intended also to ensure that inflation remain anchored on the medium term to moderate the fragile financial sector.Mr Kafuta said Zambia has had challenges with the economy which he attributed to the impact of Covid-19.“So […]
MPR INCREASE TO REDUCE PRESSURE ON INFLATION

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