More accolades for BoZ
Published On March 1, 2024 » 767 Views» By Times Reporter » Business, Stories
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By KETRA KALUNGA –
THE monetary intervention measures by the Bank of Zambia (BoZ) are bearing fruit, economic stakeholders have said.
They say that they expect this to lead to a reduction in prices of essential commodities like fuel and ultimately improve businesses, the welfare of consumers, and economic performance.
The measures BoZ has taken include increasing the statutory reserve ratio (SRR) on both local and foreign currency deposits to 26 per cent from 17 per cent and the Monetary Policy Rate (MPR) to 12.5 per cent from 11 per cent as well as the implementation the Export Proceeds Tracking Framework.

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