ZAMBIA Industrial Commercial Bank (ZICB) Chief Executive Officer Ngenda Nyambe says commercial banks need to pass on the benefits of the reduced Monetary Policy Rate to borrowers. Nyambe adds that the economy is stable in terms of inflation and exchange rates. Recently, the Bank of Zambia (BoZ) announced a reduction in the Monetary Policy Rate by 250 basis points, from 13.25 percent to 10.75 percent, the lowest rate the country had recorded in about 15 years. Responding to questions during a recent breakfast meeting, Nyambe said the reduction in the Monetary Policy Rate by BoZ was a reflection of what had been happening in the economy. He pointed out that the expectation in the banking industry was to pass on...