ECONOMIST Bright Chizonde says the Bank of Zambia (BOZ) is likely to maintain the Monetary Policy rate following the recent increase in the Statutory Reserve Ratio. The central bank recently announced an increase in the minimum Statutory Reserve Ratio by 2.5 percentage points to 11.5 percent from the current 9.0 percent. In an interview, Chizonde said it will be difficult for the central bank to either reduce or increase the MPR because it has already effected a measure meant to reduce inflation rate and the exchange rate. “I expect the Bank of Zambia to maintain the Monetary Policy Rate, and this is because they have already effected a measure which is meant to reduce inflation and also stabilise the exchange...