ANDD expresses concern over increase of the policy monetary rate

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Advocates for National Democracy and development ANDD has expressed concern that the increase of the policy monetary rate by 50 basis points to 9.0% will impact negatively on the country’s economy. The bank of Zambia announced yesterday that the monetary policy committee (MPC) at its November meeting decided to raise the monetary policy rate (MPR) by 50 basis points to 9.0 percent. Bank of Zambia governor Dr Denny Kalyalya said the decision was arrived at in a quest to help steer inflation to single digits in 2022 and to maintain it within the 6-8 percent target range by mid-2023 as staled in the 2022 budget address.

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