BOZ encouraged to maintain the monetary policy

 BOZ encouraged to maintain the monetary policy

By IREEN MULENGA
A social economist Kelvin Chisanga has called on the Bank of Zambia to maintain the monetary policy at 8 point 5 percent.

Mr  Chisanga said the central bank should maintain the policy rate because of positive monetary transmission, reduced inflationary pressure, reduced political risk and the easing of Covid-19 cases.

He said the third quarter has also experienced positives on both fiscal and monetary sides as Zambia is now taking a slow-paced recovery and growth process stage.

“We are  concerned because the Kwacha has been losing some marginal values despite having market intervention processes at some points by the central bank,” he said.

Mr Chisenga  said US Dollar supply has exposed the Kwacha to some weekly depreciations with almost losing close to one percent on a weekly basis.