THIS WEEK: WHICH WAY IS CENTRAL BANK TAKING US? In Zambia - TopicsExpress

THIS WEEK: WHICH WAY IS CENTRAL BANK TAKING US? In Zambia it’s popular among the commuters to ask the driver which way they are being driven to especially if the passengers are not clear with the direction. In some cases the passengers may even ask the driver to stop the bus so that they could drop off. This is the same question Zambians were asking the central bank in Zambia. Zambians are now wondering what is happening with the ever increasing interest rates and the unstable foreign exchange rate. Early this year His Excellency President Mr.Micheal Chilufya Sata instructed Bank of Zambia (BoZ) Governor to explain what was happening on the foreign exchange rate. The recent increase in interest rates has also puzzled a number of Zambians and they are asking government to intervene. The current prevailing circumstance in the money market is very worrying. In simple terms, interest rate is the cost of borrowing money. It is the compensation for the service and risk of lending money. Read full article on our website zambianeye/archives/22655

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