The Bank of Zambia has reduced the Monetary Policy Rate by 250 basis points to 10.75 percent, down from 13.25 percent, in a major development for Zambia’s economy. The decision was announced following the Bank of Zambia Monetary Policy Committee’s September 28–29, 2026 meeting. According to the Bank, the decision took into account developments in […]

The Bank of Zambia has reduced the Monetary Policy Rate by 250 basis points to 10.75 percent, down from 13.25 percent, in a major development for Zambia’s economy.

The decision was announced following the Bank of Zambia Monetary Policy Committee’s September 28–29, 2026 meeting.

According to the Bank, the decision took into account developments in inflation and risks to the inflation outlook, among other economic factors.

The latest reduction comes after the central bank reduced the Monetary Policy Rate by 25 basis points to 13.25 percent in May 2026.

The Bank of Zambia also reported that the Kwacha had appreciated by 11.8 percent on a year-to-date basis, while gross international reserves stood at approximately US$6 billion as of July 2026.
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The interest rate decision comes at a time when Zambian households and businesses are closely watching economic developments, particularly borrowing costs, inflation, fuel prices and the performance of the Kwacha.

The reduction in the Monetary Policy Rate could have implications for lending conditions and the broader cost of borrowing, although the actual impact on individual borrowers will depend on how commercial banks adjust their lending rates.

The development comes on the same day that Zambia’s fuel prices increased sharply, with petrol rising to K31.46 per litre and diesel to K33.27 per litre following the end of fuel tax relief.
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