Tanzanian loses $12.5m to ghost civil servants
File photo / Zambia's Central Bank in Lusaka
Zambia’s central bank cut its benchmark lending rate by 150 basis points to 11 percent on Thursday, citing lower consumer inflation and weak growth.
“Inflation has been declining and we see that it will remain within the medium term target range of 6-8 percent. We also noted that economic growth has been sluggish,” said Bank of Zambia governor Denny Kalyalya.Source: Reuters