Central bank keeps key rate unchanged at 15.5 percent

Zambia's inflation slowed to 21.8 percent in April from 22.2 percent year-on-year in March.

Zambia's President Edgar Lungu attends a signing ceremony at the Elysee Palace in Paris, France, February 8, 2016. REUTERS/Philippe Wojazer

Zambia's central bank left its benchmark lending rate unchanged at a record 15.5 percent on Tuesday, and said it was focused on reining-in soaring inflation.

"Inflation is trending downwards and our projections are that by the fourth quarter of this year we should be in single digit inflation," central bank's governor Denny Kalyalya said.

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