Date: April 1987 (decontrolled rates)
Bank | Time deposits | Lending rates | Savings deposits | ||
Min. | Max. | Min. | Max. | ||
Meridien | 12.0 | 16.5 | 23.5 | 25.0 | 11.0 |
Standard Chartered Bank | 11.0 | 25.0 | up to | 25.0 | 11.0 |
Indo-Zambia | 11.5 | 14.5 | 24.0 | 25.0 | 11.0 |
Zambia National Commercial Bank | 11.5 | 14.0 | 21.0 | 25.0 | 11.5 |
Bank of Credit and Commerce | 14.0 | 16.0 | 16.5 | 17.5 | 21.0 |
Barclays Bank | 10.0 | 13.0 | 21.0 | 25.0 | 11.0 |
Grindlays Bank International | up to | 15.0 | 23.5 | 25.0 | 11.0 |
Citibank | 7.0 | 13.0 | up to | 25.0 | - |
African Commercial Bank | 12.0 | 16.0 | 22.0 | 25.0 | 9.0–12.0 |
Date: May 1987 (controlled rates for all commercial banks listed above)
= Max. lending rate: Normal = 15%
Exceptional (i.e., by permission from the Central Bank): 20%
Year | Nominal rates (overdrafts:min.) | Times Series Variations in the consumer price index | Real rates |
% | % | % | |
1980 | 9.5 | +11.7 | -2.2 |
1981 | 8.0 | +13.4 | -5.4 |
1982 | 9.5 | +12.6 | -3.1 |
1983 | 13.0 | +19.6 | -6.6 |
1984 | 14.5 | +19.6 | -5.4 |
1985 | 17.5 | +38.0 | -20.5 |
1986 | 25.0 | +51.6 | -28.1 |
Sources: Research Department, BOZ, Central Statistical Office