The Monetary Policy Rate has continued to nose dive with more than a Month before 2018, the Latest Reduction sees the Policy Rate Drop to 10.25 Percent from 11 Percent.
And the Statutory Reserve Ratio is now at 8 Percent from 9.5 Percent.
A Policy Rate in short; is a Monetary Instrument under which the Central Bank; Regulate Availability, Cost and use of Money and Credit.
A Statutory Reserve Ratio is used by the Central Bank to determine the Rate at which Commercial Banks require to maintain a Liquid Assets as a mandate to providing Credit to Customers.
A Reduction in the Policy Rates means that there is a Potential to Alter Short Term Interest Rates in an Economy, thereby Influencing a Level of Economic Growth.
Bank of Zambia (BOZ), Governor, Dr Denny Kalyalya Briefed the Media this Morning (WEDNESDAY).
NOVEMBER 22, 2017