THE Bank of Zambia (BoZ) has reduced the Monetary Policy Rate (MPR) by 25 basis points to 13.25 percent from 13.5 percent in February. BoZ adds that the annual inflation rate is projected at 6.8 percent in 2026 and 6.1 percent in 2027. The Central Bank also says Gross International Reserves closed the quarter at $6.2 billion compared to $6.5 billion in February, adding that the decline was due to payments for fuel procurement, among other factors. Meanwhile, BoZ disclosed that in the first quarter of 2026, it bought about 154.3 kg of gold with a purchase value of $25.4 million, bringing total holdings to 3,380.78 kg. Speaking during the MPR briefing, Wednesday, BoZ Governor Dr Denny Kalyalya said the...
