Zambia: Impact of Monetary Policy Rate On Open Market Operations

THE Bank of Zambia (BoZ) has the policy mandate of assessing and achieving a stable rise in Gross Domestic Product (GDP), keeping unemployment low and maintaining the exchange rate and inflation in a predictable range.

To achieve this, the Central Bank in accordance with the BoZ Act of 2022 implements the monetary policy in line with the inflation targets, consistent with the government’s broader medium and long-term macroeconomic objectives.

The macroeconomics objectives include the real GDP…