Middle East and Africa

Bank of Zambia

Too few recent speeches for a current tone.

Speeches: 168
First speech: Jan 23, 2003
Latest speech: May 22, 2026
Tone vs coming rate moves: Not tested; too few speeches or no published rate

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

The BIS does not publish a policy rate for this central bank, so only its tone is shown.

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
May 22, 2026	Denny H Kalyalya: Keynote speech - Stanbic Bank 4th Banking Industry Symposium Denny H Kalyalya	−0.04
Apr 30, 2026	Denny H Kalyalya: Launch of the 2025 FinScope Survey results Denny H Kalyalya	−0.08
Mar 16, 2026	Denny H Kalyalya: Remarks - launch of the 2026 financial literacy week Denny H Kalyalya	–
Oct 31, 2025	Denny H Kalyalya: Opening speech - World Savings Day and Financial Literacy Awards Denny H Kalyalya	–
Oct 9, 2025	Denny H Kalyalya: Opening remarks - Bank of Zambia Currency Directives of 2025 Denny H Kalyalya	−0.04
Sep 16, 2025	Denny H Kalyalya: Remarks - launch of the 2025 Banking and Non-Banking Industry Survey Report Denny H Kalyalya	+0.07
Mar 17, 2025	Denny H Kalyalya: Think before you follow, safeguard your money Denny H Kalyalya	−0.03
Aug 26, 2024	Denny H Kalyalya: Launch of the 2023 Banking Industry Survey Report by PWC Denny H Kalyalya	+0.21
Aug 21, 2024	Denny H Kalyalya: 60 years of central banking - repositioning for sustainable and inclusive growth in a digital world Denny H Kalyalya	−0.03
Apr 29, 2024	Denny H Kalyalya: Keynote address - conference and meeting of the Community of African Banking Supervisors (CABS) Denny H Kalyalya	−0.13
Mar 18, 2024	Denny H Kalyalya: Protect your money, secure your future Denny H Kalyalya	–
Mar 20, 2023	Denny H Kalyalya: Launch of the 2023 Financial Literacy Week Denny H Kalyalya	+0.07
Dec 15, 2021	Rekha Chifuwe Mhango: 2021 findings of the private sector foreign investment and investor perception survey Rekha Chifuwe Mhango	−0.00
Oct 31, 2019	Denny H Kalyalya: Be money smart - savings give life a lift! Denny H Kalyalya	−0.04
Jun 6, 2019	Denny H Kalyalya: Ground-breaking ceremony of new Barclays Bank head office and call to help Zambia tackle economic challenges Denny H Kalyalya	−0.12
May 6, 2019	Denny H Kalyalya: Cyber security in the financial services sector Denny H Kalyalya	−0.06
May 2, 2019	Tukiya Kankasa-Mabula: Dissemination of results of baseline survey - framework for collection of sex-disaggregated data Tukiya Kankasa-Mabula	–
Jun 24, 2014	Michael Gondwe: Women's access to financial services in Zambia Michael Gondwe	+0.11
May 10, 2014	Michael Gondwe: 50 years of central banking in Zambia - repositioning for the future Michael Gondwe	+0.09
May 1, 2014	Michael Gondwe: Outline of Zambia s recent macroeconomic performance and projected outlook Michael Gondwe	+0.24
Nov 28, 2013	Michael Gondwe: Encouraging local content and business linkages - role of the financial sector Michael Gondwe	−0.42
Nov 26, 2013	Michael Gondwe: Developing economic and banking opportunities in Zambia Michael Gondwe	+0.18
Sep 10, 2013	Michael Gondwe: Facilitating trade and building economies on the African continent Michael Gondwe	−0.14
Jun 28, 2013	Michael Gondwe: Enhancing access to financial services in Zambia Michael Gondwe	+0.07
Jun 27, 2013	Michael Gondwe: Economic and financial sector developments in Zambia Michael Gondwe	+0.19
Jun 19, 2013	Bwalya K E Ng'andu: Benefits, problems and challenges associated with credit cards Bwalya K E Ng'andu	+0.39
Apr 8, 2013	Michael Gondwe: Supervision of non-banks and microfinance institutions Michael Gondwe	−0.02
Mar 24, 2013	Michael Gondwe: Islamic commerce and finance Michael Gondwe	−0.05
Oct 18, 2012	Michael Gondwe: Skills development as a catalyst for youth employment promotion, income growth, and micro, small and medium enterprises Michael Gondwe	−0.01
Oct 17, 2012	Tukiya Kankasa-Mabula: Stimulating academic development in Zambia Tukiya Kankasa-Mabula	−0.03
Sep 27, 2012	Tukiya Kankasa-Mabula: Accelerating women's economic empowerment - key to job and wealth creation; sub theme: financial inclusion Tukiya Kankasa-Mabula	+0.03
Sep 14, 2012	Tukiya Kankasa-Mabula: Bank of Zambia's key policy initiatives Tukiya Kankasa-Mabula	−0.09
Sep 12, 2012	Michael Gondwe: Mobile payments and mobile banking in Zambia Michael Gondwe	−0.08
Aug 31, 2012	Michael Gondwe: Importance of the SME sector in Zambia Michael Gondwe	+0.00
Jul 12, 2012	Bwalya K E Ng'andu: The National Strategy on Financial Education for Zambia Bwalya K E Ng'andu	–
Jun 26, 2012	Bwalya K E Ng'andu: Financing small- and medium-scale industries in Africa Bwalya K E Ng'andu	+0.02
Mar 20, 2012	Michael Gondwe: Collective bargaining Michael Gondwe	+0.12
Dec 22, 2011	Bwalya K E Ng'andu: Improving the investment climate in Zambia Bwalya K E Ng'andu	+0.08
Dec 1, 2011	Bwalya K E Ng'andu: Improving access to finance by the SMEs in Zambia Bwalya K E Ng'andu	+0.07
Nov 22, 2011	Bwalya K E Ng'andu: Workshop on Zambian banknotes Bwalya K E Ng'andu	−0.01
Oct 26, 2011	Bwalya K E Ng'andu: Accelerating growth and adoption in mobile payments Bwalya K E Ng'andu	+0.03
Oct 25, 2011	Bwalya K E Ng'andu: Enhancing corporate governance among various stakeholders within the financial sector Bwalya K E Ng'andu	–
Sep 14, 2011	Austin Mwape: Improving financial transactions in Zambia Austin Mwape	+0.02
Jul 26, 2011	Caleb M Fundanga: Developing Zambia's Stock Exchange Caleb M Fundanga	+0.27
Jul 25, 2011	Caleb M Fundanga: Recent economic developments in Zambia Caleb M Fundanga	+0.02
Jul 8, 2011	Caleb M Fundanga: Improving the savings culture of Zambians Caleb M Fundanga	−0.29
Jun 30, 2011	Caleb M Fundanga: Innovative financial products on the Zambian market in relation to credit interest rates and the private sector development Caleb M Fundanga	−0.18
Jun 6, 2011	Caleb M Fundanga: Transparent pricing initiative in Zambia Caleb M Fundanga	−0.02
Apr 27, 2011	Caleb M Fundanga: Corporate governance and its impact on financial institutions Caleb M Fundanga	–
Mar 21, 2011	Caleb M Fundanga: Small-scale cross-border trade and payment services in southern Africa Caleb M Fundanga	−0.09
Mar 3, 2011	Caleb M Fundanga: The history and experiences of the financial sector and regulatory framework in Zambia Caleb M Fundanga	+0.15
Feb 18, 2011	Caleb M Fundanga: Fourth quarter 2010 media briefing Caleb M Fundanga	+0.23
Jan 20, 2011	Caleb M Fundanga: Foreign private investment in Zambia Caleb M Fundanga	+0.20
Dec 22, 2010	Caleb M Fundanga: The importance of multi-cultural awareness and language learning Caleb M Fundanga	+0.56
Nov 11, 2010	Caleb M Fundanga: The role of financial systems in capital markets development? Caleb M Fundanga	+0.04
Nov 8, 2010	Caleb M Fundanga: Third quarter 2010 media briefing Caleb M Fundanga	−0.02
Oct 27, 2010	Caleb M Fundanga: Setting new standards for cellphone banking Caleb M Fundanga	−0.42
Oct 20, 2010	Caleb M Fundanga: The Financial Sector Development Plan Caleb M Fundanga	–
Sep 21, 2010	Tukiya Kankasa-Mabula: Stakeholder s workshop on the draft Bank of Zambia Act Tukiya Kankasa-Mabula	−0.06
Aug 9, 2010	Denny H Kalyalya: High performance leadership Kenny H Kalyalya	+0.43

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.