The Bank of Zambia (BOZ) has announced a reduction in the Statutory Reserve Ratio (SRR) on Kwacha deposits, lowering the requirement from 26% to 21%. The policy shift, effective 3 August, is aimed at injecting additional liquidity into the banking sector and fostering economic growth. BOZ Governor Dr. Denny Kalyalya revealed the decision during a media briefing at the 98th Agriculture and Commercial Show, describing it as a strategic move to enhance the lending capacity of commercial banks. Economic analyst Ephron Chilunjika, speaking to the Zambian Business Times (ZBT), characterized the reduction as one of the most impactful monetary policy...
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