Zambia's central bank slashes key rate by 250 basis points
EWZ•Zambia's central bank cut its benchmark lending rate by 250 basis points to 10.75%, far more than economists' forecast 25-basis-point cut. Annual inflation eased to 6.1% in September from 6.2% in August.
1. Rate cut exceeds forecast
Zambia's central bank cut its benchmark lending rate by 250 basis points to 10.75% in a decision announced Wednesday. The reduction was much larger than the 25-basis-point cut forecast by economists.
2. Inflation eases
Annual inflation softened to 6.1% in September from 6.2% the previous month. It was near the bottom of the central bank's 6%-8% target range and at its lowest level since 2018.
