ECONOMIST Trevor Hambayi says the Bank of Zambia (BOZ)’s decision to raise the statutory reserve ratio on both local and foreign currency deposits by nine percentage points will cause an accelerated depreciation of the kwacha in the short term. The Bank of Zambia has for the third time in a short period, revised the statutory reserve ratio on both local and foreign currency deposits, with the current adjustment, effective from February 5, 2024, increasing it by nine percentage points; from 17 percent to 26 percent. Commenting on this in an interview, Friday, Hambayi said in the short term, the move would contribute towards an accelerated deprecation of the Kwacha. “So firstly I’m surprised that Central Bank has raised the statutory...