By BUUMBA CHIMBULU PERSISTENT inflationary rate has driven the cost of borrowing money from financial institutions upwards, potentially slowing down economic activity. Yesterday, the Bank of Zambia (BoZ) raised the benchmark lending rate by 50 basis points to 14.5 percent in a bid to curb persistent inflation and guide it back toward the target range of six to eight percent. This is from 14 percent which was for the previous quarter. The central bank is however confident that the inflation rate, currently at 16.7 percent will reduce CLICK HERE TO READ MORE
Cost of borrowing money goes up – BoZ
