Sat, 10 Feb 2018 10:47:30 +0000 By MAILESI BANDA STANBIC Bank has predicted a drop in interest rates by the Bank of Zambia in the first half due to subdued inflation and stable exchange rates. According to Stanbic Africa Local Markets Monthly economic review for December 2017, after touching a low of K8.80 in 2017, the Kwacha exchange rate ended the year at K10.00 to the dollar, with the local unit depreciating on the back of improved business activity and associated imports, according to the bank. The move has been said to primarily be driven by agricultural companies ahead of the farming season starting in October and a boost for construction companies who received arrears payments from the government. However, sluggish business activities at the start of 2018 have left the Kwacha trading just below its 100-day moving average at USD per K9.80 and left it poised for further gains. The US dollar remains weak […]
