ECONOMIST Noel Nkhoma says the Zambian market has become highly speculative due to the depreciating Kwacha. Last week, the Bank of Zambia announced that it had raised the Statutory Reserve Ratio (SRR) to 17 percent, barely three weeks after it was adjusted to 14.5 percent. In an interview, Nkhoma said the vulnerability in the local currency was what informed the Central Bank’s decision to raise the SRR to 17 percent in order to arrest the depreciating kwacha. “I think the reasons are very clear, they are trying to arrest the depreciation of the kwacha which is being triggered by…basically that tells me that it has reached a stage where there is a high level speculation. High level speculation in the...