Banking & Liquidity
Required Reserve Ratio
The statutory reserve ratio set by the Bank of Zambia, a monetary policy lever.
21.00%Sep 20260.00 ppon the month−5.00 ppon the year
12-month average25.17
Record high26.00Feb 2024
Record low5.00Jan 2013
Observations164since Jan 2013
Required Reserve Ratio, Jan 2013 to Sep 2026
Show the numbers
| Month | Required Reserve Ratio (%) |
|---|---|
| Sep 2026 | 21.00 |
| Aug 2026 | 21.00 |
| Jul 2026 | 26.00 |
| Jun 2026 | 26.00 |
| May 2026 | 26.00 |
| Apr 2026 | 26.00 |
| Mar 2026 | 26.00 |
| Feb 2026 | 26.00 |
| Jan 2026 | 26.00 |
| Dec 2025 | 26.00 |
| Nov 2025 | 26.00 |
| Oct 2025 | 26.00 |
| Sep 2025 | 26.00 |
| Aug 2025 | 26.00 |
| Jul 2025 | 26.00 |
| Jun 2025 | 26.00 |
| May 2025 | 26.00 |
| Apr 2025 | 26.00 |
| Mar 2025 | 26.00 |
| Feb 2025 | 26.00 |
| Jan 2025 | 26.00 |
| Dec 2024 | 26.00 |
| Nov 2024 | 26.00 |
| Oct 2024 | 26.00 |
| Sep 2024 | 26.00 |
| Aug 2024 | 26.00 |
| Jul 2024 | 26.00 |
| Jun 2024 | 26.00 |
| May 2024 | 26.00 |
| Apr 2024 | 26.00 |
| Mar 2024 | 26.00 |
| Feb 2024 | 26.00 |
| Jan 2024 | 17.00 |
| Dec 2023 | 17.00 |
| Nov 2023 | 17.00 |
| Oct 2023 | 11.50 |
| Sep 2023 | 11.50 |
| Aug 2023 | 11.50 |
| Jul 2023 | 11.50 |
| Jun 2023 | 11.50 |
| May 2023 | 11.50 |
| Apr 2023 | 11.50 |
| Mar 2023 | 11.50 |
| Feb 2023 | 11.50 |
| Jan 2023 | 9.00 |
| Dec 2022 | 9.00 |
| Nov 2022 | 9.00 |
| Oct 2022 | 9.00 |
| Sep 2022 | 9.00 |
| Aug 2022 | 9.00 |
| Jul 2022 | 9.00 |
| Jun 2022 | 9.00 |
| May 2022 | 9.00 |
| Apr 2022 | 9.00 |
| Mar 2022 | 9.00 |
| Feb 2022 | 9.00 |
| Jan 2022 | 9.00 |
| Dec 2021 | 9.00 |
| Nov 2021 | 9.00 |
| Oct 2021 | 9.00 |
| Sep 2021 | 9.00 |
| Aug 2021 | 9.00 |
| Jul 2021 | 9.00 |
| Jun 2021 | 9.00 |
| May 2021 | 9.00 |
| Apr 2021 | 9.00 |
| Mar 2021 | 9.00 |
| Feb 2021 | 9.00 |
| Jan 2021 | 9.00 |
| Dec 2020 | 9.00 |
| Nov 2020 | 9.00 |
| Oct 2020 | 9.00 |
| Sep 2020 | 9.00 |
| Aug 2020 | 9.00 |
| Jul 2020 | 9.00 |
| Jun 2020 | 9.00 |
| May 2020 | 9.00 |
| Apr 2020 | 9.00 |
| Mar 2020 | 9.00 |
| Feb 2020 | 9.00 |
| Jan 2020 | 9.00 |
| Dec 2019 | 9.00 |
| Nov 2019 | 5.00 |
| Oct 2019 | 5.00 |
| Sep 2019 | 5.00 |
| Aug 2019 | 5.00 |
| Jul 2019 | 5.00 |
| Jun 2019 | 5.00 |
| May 2019 | 5.00 |
| Apr 2019 | 5.00 |
| Mar 2019 | 5.00 |
| Feb 2019 | 5.00 |
| Jan 2019 | 5.00 |
| Dec 2018 | 5.00 |
| Nov 2018 | 5.00 |
| Oct 2018 | 5.00 |
| Sep 2018 | 5.00 |
| Aug 2018 | 5.00 |
| Jul 2018 | 5.00 |
| Jun 2018 | 5.00 |
| May 2018 | 5.00 |
| Apr 2018 | 5.00 |
| Mar 2018 | 5.00 |
| Feb 2018 | 5.00 |
| Dec 2017 | 8.00 |
| Nov 2017 | 8.00 |
| Oct 2017 | 9.50 |
| Sep 2017 | 9.50 |
| Aug 2017 | 9.50 |
| Jul 2017 | 12.50 |
| Jun 2017 | 12.50 |
| May 2017 | 12.50 |
| Apr 2017 | 15.50 |
| Mar 2017 | 15.50 |
| Feb 2017 | 15.50 |
| Jan 2017 | 18.00 |
| Dec 2016 | 18.00 |
| Nov 2016 | 18.00 |
| Oct 2016 | 18.00 |
| Sep 2016 | 18.00 |
| Aug 2016 | 18.00 |
| Jul 2016 | 18.00 |
| Jun 2016 | 18.00 |
| May 2016 | 18.00 |
| Apr 2016 | 18.00 |
| Mar 2016 | 18.00 |
| Feb 2016 | 18.00 |
| Jan 2016 | 18.00 |
| Dec 2015 | 18.00 |
| Nov 2015 | 18.00 |
| Oct 2015 | 18.00 |
| Sep 2015 | 18.00 |
| Aug 2015 | 18.00 |
| Jul 2015 | 18.00 |
| Jun 2015 | 18.00 |
| May 2015 | 18.00 |
| Apr 2015 | 18.00 |
| Mar 2015 | 14.00 |
| Feb 2015 | 14.00 |
| Jan 2015 | 14.00 |
| Dec 2014 | 14.00 |
| Nov 2014 | 14.00 |
| Oct 2014 | 14.00 |
| Sep 2014 | 14.00 |
| Aug 2014 | 14.00 |
| Jul 2014 | 14.00 |
| Jun 2014 | 14.00 |
| May 2014 | 14.00 |
| Apr 2014 | 14.00 |
| Mar 2014 | 14.00 |
| Feb 2014 | 8.00 |
| Jan 2014 | 8.00 |
| Dec 2013 | 8.00 |
| Nov 2013 | 8.00 |
| Oct 2013 | 5.00 |
| Sep 2013 | 5.00 |
| Aug 2013 | 8.00 |
| Jul 2013 | 5.00 |
| Jun 2013 | 5.00 |
| May 2013 | 5.00 |
| Apr 2013 | 5.00 |
| Mar 2013 | 5.00 |
| Feb 2013 | 5.00 |
| Jan 2013 | 5.00 |
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.
IncreaseDecrease
Related analysis
View allNothing published on this indicator yet. KSJ analysis appears here as it is written.
More in Banking & Liquidity
View allLiquid Assets Ratio59.07%−7.86 ppm/m−51.70 ppy/ySep 2026Required Liquid Assets Ratio6.00%0.00 ppm/m0.00 ppy/ySep 2026Statutory Reserve Ratio22.20%−0.15 ppm/m−4.37 ppy/ySep 2026Banks’ Current Account BalancesK7.0bn−8.9%m/m+35.7%y/ySep 2026Bank Deposits (Kwacha)K130.3bn+1.1%m/m+24.9%y/ySep 2026Bank Deposits (Foreign Currency)$4,624.1m+0.9%m/m+9.4%y/ySep 2026Banking System Claims on GovernmentK74.8bn−8.0%m/m+25.2%y/ySep 2026
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