THE Bank of Zambia has reduced the Monetary Policy Rate by 25 basis points to 14.25 percent. The Central Bank has revealed that Zambia increased its international reserves to $5.2 billion at the end of September, equivalent to 5.2 months of import cover, from $4.7 billion, equivalent to 4.7 months of import cover at end of June. Speaking during a press briefing, Wednesday, Bank of Zambia Governor Dr Denny Kalyalya said the Monetary Policy Committee took into account that inflation had declined and was forecast to continue reducing. “The Monetary Policy Committee at its meeting decided to reduce the Monetary Policy Rate by 25 basis points to 14.25 percent. The committee took into account that inflation has declined further in...