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Money & Credit

Broad Money (M2)

M1 plus kwacha time and savings deposits and foreign-currency demand deposits, kwacha billions.

K208.6bnAug 2026+1.0%on the month+6.8%on the year
12-month average196.9
Record high208.6Aug 2026
Record low3.6Mar 2003
Observations284since Jan 2003

Broad Money (M2), Jan 2003 to Aug 2026

05010015020025020032006200920122015201820212024208.6

Show the numbers
MonthBroad Money (M2) (ZMW bn)
Aug 2026208.6
Jul 2026206.5
Jun 2026200.8
May 2026193.6
Apr 2026190.1
Mar 2026193.9
Feb 2026193.6
Jan 2026195.8
Dec 2025202.8
Nov 2025194.0
Oct 2025187.7
Sep 2025195.4
Aug 2025195.3
Jul 2025185.0
Jun 2025181.7
May 2025189.5
Apr 2025184.8
Mar 2025179.9
Feb 2025179.9
Jan 2025175.6
Dec 2024178.8
Nov 2024174.2
Oct 2024171.5
Sep 2024169.9
Aug 2024163.1
Jul 2024170.6
Jun 2024154.9
May 2024155.8
Apr 2024153.2
Mar 2024148.3
Feb 2024144.5
Jan 2024149.9
Dec 2023149.7
Nov 2023140.1
Oct 2023138.8
Sep 2023140.1
Aug 2023137.1
Jul 2023128.2
Jun 2023124.9
May 2023136.2
Apr 2023124.1
Mar 2023130.6
Feb 2023127.5
Jan 2023121.2
Dec 2022122.1
Nov 2022116.7
Oct 2022114.2
Sep 2022115.2
Aug 2022113.2
Jul 2022112.0
Jun 2022108.2
May 2022108.4
Apr 2022106.5
Mar 2022104.0
Feb 2022101.6
Jan 2022103.8
Dec 2021101.0
Nov 2021102.9
Oct 2021101.2
Sep 202199.3
Aug 2021102.0
Jul 2021104.7
Jun 2021112.5
May 2021108.3
Apr 2021105.5
Mar 202199.4
Feb 202195.3
Jan 202195.5
Dec 202094.6
Nov 202091.6
Oct 202090.0
Sep 202087.2
Aug 202084.6
Jul 202080.1
Jun 202075.0
May 202075.6
Apr 202072.7
Mar 202071.4
Feb 202065.6
Jan 202064.2
Dec 201964.3
Nov 201961.3
Oct 201958.8
Sep 201960.1
Aug 201959.8
Jul 201957.7
Jun 201958.1
May 201959.1
Apr 201956.7
Mar 201954.9
Feb 201955.8
Jan 201956.7
Dec 201857.3
Nov 201855.3
Oct 201852.9
Sep 201856.9
Aug 201851.4
Jul 201850.8
Jun 201849.6
May 201851.0
Apr 201848.7
Mar 201847.5
Feb 201848.6
Jan 201848.7
Dec 201749.6
Nov 201747.0
Oct 201746.5
Sep 201746.0
Aug 201745.6
Jul 201743.3
Jun 201744.2
May 201743.3
Apr 201742.4
Mar 201743.1
Feb 201741.6
Jan 201739.8
Dec 201641.1
Nov 201642.8
Oct 201640.6
Sep 201640.5
Aug 201639.8
Jul 201642.4
Jun 201640.6
May 201641.1
Apr 201638.7
Mar 201640.3
Feb 201640.2
Jan 201639.7
Dec 201541.1
Nov 201542.6
Oct 201545.6
Sep 201542.5
Aug 201539.2
Jul 201534.8
Jun 201534.3
May 201535.0
Apr 201534.0
Mar 201535.1
Feb 201533.9
Jan 201533.8
Dec 201432.9
Nov 201431.8
Oct 201431.7
Sep 201431.3
Aug 201431.2
Jul 201430.2
Jun 201430.3
May 201433.0
Apr 201432.6
Mar 201431.9
Feb 201430.8
Jan 201430.1
Dec 201329.5
Nov 201328.0
Oct 201328.0
Sep 201327.5
Aug 201326.8
Jul 201326.2
Jun 201325.3
May 201325.4
Apr 201325.2
Mar 201324.5
Feb 201326.3
Jan 201324.1
Dec 201226.4
Nov 201223.7
Oct 201223.0
Sep 201221.4
Aug 201222.0
Jul 201221.4
Jun 201221.2
May 201220.9
Apr 201220.8
Mar 201220.8
Feb 201220.1
Jan 201219.8
Dec 201120.3
Nov 201120.0
Oct 201119.9
Sep 201119.6
Aug 201119.8
Jul 201119.1
Jun 201118.7
May 201118.1
Apr 201117.0
Mar 201116.7
Feb 201117.0
Jan 201117.9
Dec 201016.9
Nov 201016.5
Oct 201016.0
Sep 201016.7
Aug 201016.1
Jul 201015.8
Jun 201015.4
May 201014.4
Apr 201013.9
Mar 201013.2
Feb 201012.9
Jan 201012.3
Dec 200913.2
Nov 200913.0
Oct 200913.0
Sep 200912.8
Aug 200912.7
Jul 200912.6
Jun 200912.1
May 200911.7
Apr 200911.9
Mar 200912.0
Feb 200912.3
Jan 200912.3
Dec 200812.2
Nov 200812.0
Oct 200812.1
Sep 200810.5
Aug 200810.7
Jul 200810.8
Jun 200810.5
May 200810.3
Apr 20089.7
Mar 20089.8
Feb 20089.7
Jan 200810.0
Dec 200710.1
Nov 20079.2
Oct 20078.9
Sep 20079.0
Aug 20079.0
Jul 20078.8
Jun 20078.1
May 20078.0
Apr 20077.4
Mar 20077.4
Feb 20077.4
Jan 20077.6
Dec 20068.2
Nov 20067.5
Oct 20067.0
Sep 20067.4
Aug 20066.7
Jul 20066.2
Jun 20065.9
May 20065.7
Apr 20065.4
Mar 20065.5
Feb 20065.5
Jan 20065.6
Dec 20055.5
Nov 20055.3
Oct 20055.6
Sep 20055.6
Aug 20055.6
Jul 20055.7
Jun 20055.6
May 20055.4
Apr 20055.2
Mar 20055.1
Feb 20055.2
Jan 20055.3
Dec 20045.5
Nov 20045.2
Oct 20045.1
Sep 20045.1
Aug 20045.1
Jul 20045.1
Jun 20045.0
May 20044.7
Apr 20044.7
Mar 20044.5
Feb 20044.4
Jan 20044.4
Dec 20034.3
Nov 20034.0
Oct 20034.0
Sep 20034.0
Aug 20033.8
Jul 20033.7
Jun 20033.8
May 20033.7
Apr 20033.6
Mar 20033.6
Feb 20033.6
Jan 20033.6

Source: Bank of Zambia. Monthly. Gaps in the line are months with no published figure.

Change on a year earlier

Each bar is this month against the same month twelve months before — the comparison that strips out the seasonal pattern.

-20020406020042007201020132016201920222025

IncreaseDecrease

Related analysis

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Nothing published on this indicator yet. KSJ analysis appears here as it is written.

More in Money & Credit

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Narrow Money (M1)K96.4bn+5.8%m/m+34.5%y/yAug 2026Broad Money (M3)K225.5bn+1.7%m/m+3.9%y/yAug 2026Broad Money Growth3.9%−3.75 ppm/m−12.02 ppy/yAug 2026Reserve MoneyK82.1bn−8.9%m/m+20.9%y/ySep 2026Currency in CirculationK24.9bn−3.5%m/m+8.8%y/ySep 2026Credit to the Private SectorK106.0bn+2.5%m/m+9.7%y/yAug 2026Bank Loans (Kwacha)K108.6bn+5.2%m/m+17.0%y/yAug 2026Bank Loans (Dollar)$2,401.3m+4.7%m/m+45.9%y/yAug 2026Bank Loans to AgricultureK13.5bn+29.1%m/m+35.9%y/yAug 2026Bank Loans to MiningK6.4bn+14.8%m/m+5.8%y/yAug 2026Bank Loans to ManufacturingK23.2bn+1.9%m/m−2.9%y/yAug 2026Bank Loans to EnergyK13.7bn+9.9%m/m+40.5%y/yAug 2026Bank Loans to TradeK8.2bn−3.9%m/m−18.5%y/yAug 2026

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