Highlights: Local ZMW: Trading was subdued on Tuesday as USD/ZMW pair closed flat. The Kwacha was at 5.310- 5.330 versus dollar on the Inter-Bank at close of yesterday session. Focus range for this week is still remains 5.260 - 5.360. Money Markets: Markets are currently very liquid with approximately ZMW 1.2 bn. Overnight (O/N) rates are currently trading around 10.00%. The MPC on Monday noted that inflationary pressures are anticipated to emanate from higher liquidity levels in the system. The committee resolved to maintain the current monetary policy stance following the recent upward adjustments in the policy rate in July and July. Accordingly the BOZ policy rate remained unchanged at 9.75% for the month of October. International News Rand: South African’s rand weakened against the dollar on Tuesday after factory activity in September fell to an eight-month low, suggesting a slowing in the manufacturing sector. Rand was at 10.0725 to the dollar at 15:06 GMT, down 0.4 percent from its close in New York. (Reuters) Copper: London copper slipped early on Wednesday to trade near one-week lows as worries about the wider impact of the first partial U.S. government shutdown in 17 years cut appetite for riskier assets. Three-month copper on the London Metal Exchange had dropped 0.3 percent to $7,176.50 a tonne by 0304 GMT. The contract touched a low of $7,147 on Tuesday, it’s weakest since Sept. 24. Other base metals were mostly weaker. (Reuters) ZMW T- Bill & Bond Auctions 91d 182d 273d 364d 2yr 5yr 10yr 15yr Previous % 8.00 13.21 13.50 13.45 12.65 15.24 16.95 17.00 Current % 8.00 13.30 13.95 13.75 13.50 15.50 17.25 17.25
Posted on: Wed, 02 Oct 2013 09:24:44 +0000
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