Zambia Raises Key Interest Rate to Record to Contain Inflation
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The Zambian central bank raised its benchmark interest rate to a record high to tame inflation and halt a slide in the currency.
The policy rate was raised by a half of a percentage point, or 50 basis points, to 10.25 percent, according a statement on the Lusaka-based central bank’s website. The rate was introduced in March 2012 at 9 percent.