Africa-Press – Zambia. Bank of Zambia (BoZ) Dr. Danny Kalyalya has disclosed that they have maintained the monitoring policy and that the inflation rate has dropped largely attributed to the three factors.
Speaking this morning on their third quarter of the media briefing, Dr. Kalyalya further revealed that the factors include the appreciation of the Kwacha against other currencies.
Dr. Kalyalya added that other factors are lower fuel prices recorded the past three to four months that has seen a drop in the fuel pump prices as announced by Energy Regulations Board (ERB) and lower food prices currently in the nation.
He added that their is a lot happening in the mining sector contributing to the positive performance of the economy.
“Alot of effort is being done in many sectors especially the mining which is the major player in the growth of the economy,” he emphasized.
Dr. Kalyalya noted that their is a possibility of the stability of the Kwacha if their is continued demand of the foreign currencies.
He disclosed that BoZ has so far withdrawn 9.9 billion kwacha of old currency representing a 44.3 percent from the public.
“We have since distributed the long awaited new K50 and K100 notes countrywide and will be ready to be accessed by first of September this year,” he disclosed.
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