Zambia's central bank leaves benchmark lending rate unchanged at 15.5 Pct

by Reuters 5 views0

Zambia hikes overnight lending rate

Zambia’s central bank left its benchmark lending rate unchanged at 15.5 percent on Friday.

In January inflation ticked up to 21.8 percent year-on-year in January from 21.1 percent in December, while the economy is expected to grow 3.7 percent in 2016.

Zambia is amongst the countries hard-hit by a severe drought that has swept across southern Africa that has withered maize crops, raising fears that a sharp increase in the prices of the staple food would fuel inflation.