Zambia's central bank continued to ease its monetary policy stance by cutting its policy rate and the reserve requirement to support economic growth and promote a stable financial system, and forecast inflation in the lower bound of its inflation target over the next eight quarters.

Zambia's central bank cut its policy rate for the fourth consecutive time this year, though at a slower pace than in the past, as inflation continues to decline and is expected to remain within the bank's target range over the next two years.

Zambia's central bank cut its policy rate for the third consecutive time by 150 basis points, citing the continued decline in inflation and inflation projections that indicate inflation will remain well anchored within the bank's 6 - 8 percent target range over the next eight quarters.

Zambia's central bank cut its policy rate for the second time in a row, saying inflation is forecast to remain within the bank's target range over the medium term and prospects for economic growth are expected to improve despite subdued economic activity in the first quarter.