LUSAKA, May 13 (Reuters) – Zambia’s central bank lowered its benchmark lending rate by 25 basis points to 13.25% in a decision announced on Wednesday.
Economists polled by Reuters had predicted that interest rates would remain unchanged.
The Bank of Zambia cut its Monetary Policy Rate by 75 basis points at its last meeting in February.
But the U.S.-Israeli war against Iran has since threatened to disrupt a slowdown in inflation.
Annual inflation was at 6.8% in April, down from 7.1% the previous month and within the central bank’s 6%-8% target range.
(Reporting by Chris Mfula;Additional reporting by Anathi Madubela;Editing by Alexander Winning)
