THE Bank of Zambia (BOZ) has raised the Monetary Policy Rate (MPR) by 100 basis points to 13.5 percent from 12.5 percent. And BOZ Governor Dr Denny Kalyalya has attributed gains in the local currency to measures the Central Bank is implementing to tighten Kwacha availability, among other factors. Meanwhile, Dr Kalyalya has disclosed that economic activity reduced in the first quarter of 2024 due to inflationary pressures induced by the weak Kwacha and drought. Speaking at a media briefing, Wednesday, Dr Kalyalya said the decision to increase the MPR was informed by a number of factors, among them the continued rise in inflation. “The Committee at its meetings of Monday and Tuesday decided to raise the policy rate by...