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Zambia central bank raises key rate again as inflation above target - REUTERS
BY Chris Mfula
LUSAKA, Feb 12 (Reuters) – Zambia’s central bank raised its monetary policy rate by 50 basis points to 14.50% on Wednesday in an effort to steer inflation back to its target band.
The Bank of Zambia also raised the rate by 50 basis points at its last monetary policy meeting in November.
Inflation stood at 16.7% year on year in January, well above the central bank’s 6%-8% target range.
(Reporting by Chris Mfula; Writing by Sfundo Parakozov; Editing by Alexander Winning)