May 17, 2017 / 8:50 AM / 5 months ago

Zambia's central bank cuts benchmark lending rate to 12.5 percent

LUSAKA, May 17 (Reuters) - Zambia’s central bank cut its benchmark lending rate by 150 basis point to 12.5 percent, Governor Denny Kalyalya said on Wednesday, citing lower inflation and subdued economic growth.

“Among the principle reasons the monetary policy committee considered ... is the continued decline in inflation,” he said.

The nation’s inflation was flat at 6.7 percent year-on-year in April, the statistics office said last month, maintaining its steady decline from more than 20 percent a year ago. (Reporting by Chiwoyu Singyangwe; Editing by James Macharia)

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