Zambia has increased its interest rates by 3.00 percentage points, from 12.50% to an annual rate of 15.50%.
The key rates a tool used by Central Banks to implement monetary policy.
An increase in interest rates is used to slow down inflation and protect the currency. .
This change is the first to have taken place since on September17th 2015, when the Central Bank increasedinterest rates by 3.00 percentage points to 12.50%.