The central bank’s decision follows six successive monetary policy meetings at which the policy rate was raised.
So far this year it implemented a 100-basis-point (bps) hike in May and a 150 bps increase in February.
Inflation has been rising in Zambia since the middle of last year, reaching 15.4% year on year in July this year, fuelled by a slide in the local kwacha currency and the worst drought in the Southern Africa region in decades.
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