Zambia central bank keeps main interest rate at 14.50%
LUSAKA, May 23 (Reuters) - Zambia's central bank kept its benchmark lending rate (ZMCBIR=ECI), opens new tab unchanged at 14.50% in a decision announced on Friday.
The Bank of Zambia had raised its Monetary Policy Rate by 50 basis points each at its last meetings in February and November, to tame consumer inflation, which sits well above the bank's 6%-8% target range.
The country's annual inflation rate was at 16.5% (ZMCPIY=ECI), opens new tab in April, unchanged, opens new tab from the previous month.
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