Zambia Bank of Zambia Policy Rate
Zambia Bank of Zambia Policy Rate is 10.75 percent, in force since 30 Sep 2026, cited to Bank of Zambia. It was 13.25 percent before that. Last checked against the official source on 24 Oct 2026.
Official source: Bank of Zambia · Last checked 2026-10-24 · source fingerprint
The Bank of Zambia Policy Rate — the key signal of the monetary policy stance, introduced 2 April 2012, set by the nine-member Monetary Policy Committee constituted under section 28(1) of the Bank of Zambia Act, 2022. The MPC meets in the second month of each quarter (February, May, August, November) and the decision is announced in an MPC Statement the day after the meeting. The Bank steers the overnight interbank rate within a corridor of +/- 1 percentage point around the Policy Rate.
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| Current value | 10.75 percent |
|---|---|
| In force from | 2026-09-30 |
| Official source | Bank of Zambia — August 2026 Monetary Policy Report (approved by the MPC on September 30, 2026, published pursuant to s.29(2) Bank of Zambia Act 2022), §1.5 Monetary Policy Decision: 'At its Meeting held on September 28-29, 2026, the Monetary Policy Committee (MPC) decided to reduce the Monetary Policy Rate by 250 basis points to 10.75 percent'; Appendix 'Monetary and Foreign Exchange Measures': 'Policy Rate Reduced to 10.75 Percent — September 30, 2026' |
| Last verified | 2026-10-24 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
Cut 250bp from 13.25% at the MPC meeting of 28-29 September 2026 (this cycle met in late September, not mid-August); Date Implemented 30 September 2026 per the BoZ appendix, which is the effective_from convention for this series. Inflation 6.1% in September 2026, inside the 6-8 percent target band. Decision date 2026-09-29. Do NOT confuse the Policy Rate with the Overnight Lending Facility (OLF) rate, the statutory reserve ratio or the 91-day T-bill rate. ACCESS NOTE for the source-watcher: boz.zm HTML pages are a JavaScript shell that returns a ~10KB 'Loading Website...' page to non-browser clients; only PDFs served from https://www.boz.zm/sites/default/files/<YYYY-MM>/ are directly fetchable as real PDFs — watch that path. Read from the primary PDF on 2026-10-24.
Earlier values
| From | Value | Source |
|---|---|---|
| 2026-05-13 | 13.25 | Bank of Zambia — Monetary Policy Report, May 2026 (approved… |
| 2026-02-11 | 13.5 | Bank of Zambia — Monetary Policy Report May 2026, Appendix… |
| 2025-11-12 | 14.25 | Bank of Zambia — Monetary Policy Report May 2026, Appendix… |
| 2025-02-12 | 14.5 | Bank of Zambia — Monetary Policy Report May 2026, Appendix… |
| 2024-11-13 | 14 | Bank of Zambia — Monetary Policy Report May 2026, Appendix… |
| 2024-05-15 | 13.5 | Bank of Zambia — Monetary Policy Report May 2026, Appendix… |
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Other Zambia series: VAT standard rate · VAT registration threshold · Statutory minimum wages by category (no single national rate) · Public holidays · CPI inflation (year-on-year) · Company income tax standard rate · Withholding tax rates · Statutory late-payment interest · Personal income tax (PAYE) bands · Statutory social-insurance contributions
The same figure elsewhere: Algeria · Angola · Benin · Botswana · Burkina Faso · all 34