Editing Economy of Zambia (section)

=== Finance and Banking Services ===
* Central Bank: [[Bank of Zambia]] (BOZ)
* [[List of banks in Zambia]]
{| class="wikitable"
|+Monetary Policy<ref>{{Cite web |last=boz |date=30 April 2022 |title=monitory-policy-decisions |url=https://www.boz.zm/monitory-policy-decisions.htm |access-date=30 April 2022 |website=boz.zm}}</ref><ref name=":11">{{Cite web |last= |date=18 May 2022 |title=BOZ maintains policy rate at 9% |url=https://zambianbusinesstimes.com/boz-maintains-policy-rate-at-9/ |access-date=19 May 2022 |website=zambianbusinesstimes.com}}</ref>(Tightening: Red. Easing: Green)
!Date
!Policy Rate
!Monetary Policy Committee Statement
|-
|5 November 2015
|{{IncreaseNegative}}15.50%
|Policy Rate adjusted upward by 300 basis points to 15.50%
|-
|19 February 2016
|{{Steady}}15.50%
|Policy Rate maintained at 15.50%
|-
|20 May 2016
|{{Steady}}15.50%
|Policy Rate maintained at 15.50%
|-
|19 August 2016
|{{Steady}}15.50%
|Policy Rate maintained at 15.50%
|-
|16 November 2016
|{{Steady}}15.50%
|Policy Rate maintained at 15.50%
|-
|22 February 2017
|{{DecreasePositive}}14.00%
|Policy Rate Reduced by 150 basis points 14.00%,
the Overnight Lending Facility (PLF) Rate reduced to 600 basis points above the Policy Rate,
and the Statutory Reserve Ratio reduced by 250 basis points to 15.50%
|-
|17 May 2017
|{{DecreasePositive}}12.50%
|Policy Rate Reduced by 150 basis points 12.50%
|-
|10 August 2017
|{{DecreasePositive}}11.00%
|Policy Rate lowered to 11.00% and Statutory Reserve Ratio reduced to 9.50%
|-
|22 November 2017
|{{DecreasePositive}}10.25%
|Policy Rate lowered to 10.25% and Statutory Reserve Ratio reduced to 8.00%
|-
|16 February 2018
|{{DecreasePositive}}9.75%
|Policy Rate cut by 50 Basis Points to 9.75%
|-
|16 May 2018
|{{Steady}}9.75%
|Policy Rate maintained at 9.75%
|-
|22 August 2018
|{{Steady}}9.75%
|Policy Rate maintained at 9.75%
|-
|21 November 2018
|{{Steady}}9.75%
|Policy Rate maintained at 9.75%
|-
|20 February 2019
|{{Steady}}9.75%
|Policy Rate maintained at 9.75%
|-
|22 May 2019
|{{IncreaseNegative}}10.25%
|Policy Rate adjusted upwards by 50 basis points to 10.25%
|-
|21 August 2019
|{{Steady}}10.25%
|Policy Rate maintained at 10.25%
|-
|20 November 2019
|{{IncreaseNegative}}11.50%
|Policy Rate adjusted upward by 125 basis points to 11.50%
|-
|19 February 2020
|{{Steady}}11.50%
|Policy Rate maintained at 11.25%
|-
|20 May 2020
|{{DecreasePositive}}9.25%
|Policy Rate cut by 225 Basis Points to 9.25%
|-
|19 August 2020
|{{DecreasePositive}}8.00%
|Policy Rate cut by a further 125 Basis Points to 8.00%
|-
|18 November 2020
|{{Steady}}8.00%
|Policy Rate held at 8.0%
|-
|17 February 2021
|{{IncreaseNegative}}8.50%
|Policy Rate adjusted upwards by 50 basis points to 8.50%
|-
|19 May 2021
|{{Steady}}8.50%
|Policy Rate held at 8.50%
|-
|1 September 2021
|{{Steady}}8.50%
|Policy Rate held at 8.50%
|-
|24 November 2021
|{{IncreaseNegative}}9.00%
|Policy Rate adjusted upwards by 50 basis points to 9.00%
|-
|17 February 2022
|{{Steady}}9.00%
|Policy Rate maintained at 9.00%
|-
|18 May 2022
|{{Steady}}9.00%
|Policy Rate maintained at 9.00%<ref name=":11" />
|-
|17 August 2022
|{{Steady}}9.00%
|Policy Rate maintained at 9.00%<ref>{{Cite web |last= |date=17 August 2022 |title=BOZ maintains lending rates as inflation slows |url=https://zambianbusinesstimes.com/boz-maintains-lending-rates-as-inflation-slows/ |access-date=18 August 2022 |website=zambianbusinesstimes.com}}</ref><ref>{{Cite web |last=Bloomberg |date=17 August 2022 |title=zambia-central-bank-holds-rates-with-price-pressures-seen-waning |url=https://www.bloomberg.com/news/articles/2022-08-17/zambia-central-bank-holds-rates-with-price-pressures-seen-waning |access-date=22 August 2022 |website=bloomberg.com}}</ref>
|-
|23 November 2022
|{{Steady}}9.00%
|Policy Rate maintained at 9.00%
|-
|15 February 2023
|{{IncreaseNegative}}9.25%
|Policy Rate adjusted upwards by 25 basis points to 9.25%<ref>{{Cite web |date=15 February 2023 |title=Monetary Policy Statement February 2023 |url=https://www.boz.zm/MPC_Statement_February_2023.pdf |access-date=17 February 2023 |website=boz.zm}}</ref>
On 2 February the Statutory Reserve Ratiowas  increased to 11.50% from 9.00%<ref>{{Cite web |last=MUCHIYA |first=TYNDALE |date=2 February 2023 |title=BOZ withdraws more money from circulation |url=https://zambianbusinesstimes.com/boz-withdraws-more-money-from-circulation/ |access-date=3 February 2023 |website=zambiabusinesstimes.com}}</ref>
|-
|17 May 2023
|{{IncreaseNegative}}9.50%
|Policy Rate adjusted upwards by 25 basis points to 9.50%<ref>{{Cite web |date=17 May 2023 |title=Bank of Zambia Raises Monetary Policy Rate to 9.50 Percent |url=https://www.lusakatimes.com/2023/05/17/bank-of-zambia-raises-monetary-policy-rate-to-9-50-percent/ |access-date=18 May 2023 |website=lusakatimes.com}}</ref>
|-
|23 August 2023
|{{IncreaseNegative}}10.00%
|Policy Rate adjusted upwards by 50 basis points to 10.00%<ref>{{Cite web |date=23 August 2023 |title=Monetary Policy Rate raised to 10.0% |url=https://boz.zm/MPC_Statement_August_2023 |access-date=23 August 2023 |website=boz.zm }}{{Dead link|date=September 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>
|-
|22 November 2023
|{{IncreaseNegative}}11.00%
|On 6 November the Statutory Reserve Ratio was  increased by 300 basis points to 14.50%<ref>{{Cite web |date=6 November 2023 |title=BOZ to Mop 300 basis points of Market Cash Reserves as it Seeks to Curb Kwacha Slide |url=https://thebusinesstelegraph.com/boz-to-mop-300-basis-points-of-market-cash-reserves-as-it-seeks-to-curb-kwacha-slide/ |access-date=6 November 2023 |website=thebusinesstelegraph.com}}</ref> Policy Rate adjusted upwards by 100 basis points to 11.00%<ref>{{Cite web |date=22 November 2023 |title=Bank of Zambia Hikes Benchmark Interest Rate 100 basis Points to 11.0%, Domestic Outlook Brighter |url=https://thebusinesstelegraph.com/bank-of-zambia-hikes-benchmark-interest-rate-100-basis-points-to-11-0-domestic-outlook-brighter/ |access-date=26 November 2023 |website=thebusinesstelegraph.com}}</ref> 
On 27 November the Statutory Reserve Ratio was  increased by 250 basis points to 17.00%<ref>{{Cite web |date=5 December 2023 |title=17% Statutory reserve ratio to hit hard on SMEs – ZICA |url=https://zambianbusinesstimes.com/17-statutory-reserve-ratio-to-hit-hard-on-smes-zica/ |access-date=9 December 2023 |website=zambianbusinesstimes.com}}</ref>
|-
|2 February 2024
|
|On 2 February the Statutory Reserve Ratio was  increased by 900 basis points to 26.00%<ref>{{Cite web |date=2 February 2024 |title=Zambia central bank raises reserve ratio to fight kwacha fall |url=https://www.xm.com/research/markets/allNews/reuters/zambia-central-bank-raises-reserve-ratio-to-fight-kwacha-fall-53755443#:~:text=The%20minimum%20statutory%20reserve%20ratio,bank%20said%20in%20a%20notice. |access-date=3 February 2024 |website=xm.com}}</ref>
|}
BOZ purchases gold locally from Kansanshi Copper Mine and the Zambia Gold Company for its reserves.<ref name=":04">{{Cite web |last= |date=30 November 2021 |title=Kasenseli Mine closure derails BOZ gold reserves build up |url=https://zambianbusinesstimes.com/kasenseli-mine-closure-derails-boz-gold-reserves-build-up/ |access-date=7 May 2022 |website=zambianbusinesstimes.com}}</ref>
{| class="wikitable"
|+
!Year
!Cummulative [[Gold reserve|Gold Reserves]] US$
!Source
!Notes
!Cumulative refined gold reserves (kg)
|-
|2021
|43,000,000
|<ref name=":04" /><ref name=":15">{{Cite web |last= |date=20 May 2022 |title=Gold reserves build up on track and hits USD63million |url=https://zambianbusinesstimes.com/gold-reserves-build-up-on-track-hits-63-million/ |access-date=20 May 2022 |website=zambianbusinesstimes.com}}</ref>
|
|
|-
|2022
|83,000,000
|<ref name=":15" /><ref>{{Cite web |last=moneyfmzambia |date=22 August 2022 |title=bank-of-zambia-buys-us72-million-worth-of-gold-bullion |url=https://www.moneyfmzambia.com/2022/08/22/bank-of-zambia-buys-us72-million-worth-of-gold-bullion/ |access-date=23 August 2022 |website=moneyfmzambia.com |archive-date=22 August 2022 |archive-url=https://web.archive.org/web/20220822122409/https://www.moneyfmzambia.com/2022/08/22/bank-of-zambia-buys-us72-million-worth-of-gold-bullion/ |url-status=dead }}</ref><ref>{{Cite web |last= |date=10 November 2022 |title=Gold Reserves reach USD83m |url=https://zambianbusinesstimes.com/gold-reserves-reach-83m/ |access-date=11 November 2022 |website=zambianbusinesstimes.com}}</ref>
|target for 2022 is US$100 million in Gold <ref name=":15" />
|1,438 kilograms
|}
{| class="wikitable"
|+Commercial Banks’ Average Lending Rates
!Year
!2016
!2017
!2018
!2019
!2020
!2021
!2022
|-
|Rate
|29.20%
|{{DecreasePositive}}24.90%
|{{DecreasePositive}}23.60%
|{{IncreaseNegative}}25.63%
|{{IncreaseNegative}}26.57%
|{{DecreasePositive}}25.90%
|{{DecreasePositive}}25.22%
|-
|Source
|<ref>{{Cite web |last=zda |date=30 September 2020 |title=ZDA-2017-ANNUAL-REPORT |url=http://www.zda.org.zm/wp-content/uploads/2020/09/ZDA-2017-ANNUAL-REPORT.pdf |access-date=7 August 2022 |website=zda.org.zm}}</ref>
|<ref name=":23">{{Cite web |last=ayokos |date=7 August 2022 |title=ZDA-2019-ANNUAL-REPORT |url=http://ayokos.com/vs/zdanew/wp-content/uploads/2020/09/ZDA-2019-ANNUAL-REPORT.pdf |access-date=7 August 2022 |website=ayokos.com}}</ref>
|<ref name=":23" />
|<ref name=":24" />
|<ref name=":24" />
|<ref name=":22" />
|<ref>{{Cite web |date=24 March 2023 |title=BOZ Monetary and Financial Statistics |url=https://www.boz.zm/monetary-and-financial-statistics-Dec2022.htm |access-date=7 April 2023 |website=boz.zm}}</ref>
|}