Bank Of Zambia To Keep Interest Rates On Hold In 2024, Cut In 2025
Country Risk / Zambia / Thu 16 May, 2024
Key View
- We forecast that the BoZ will keep its benchmark policy rate on hold at 13.50% over the remainder of 2024, after a surprise 100 basis point hike at its May meeting, as inflation will remain above the bank’s 6-8% target range for the duration of the year on currency volatility and constrained food supply.
- We do not expect monetary easing to