Zambia central bank raised its benchmark interest rate by 25 bps to 9.5%, marking the second successive rate hike this year. This decision aims to mitigate persistent inflation and bolster the domestic currency, currently suffering from the sluggish pace of debt-restructuring discussions. In April, Zambia’s annual inflation rate rose for the third month in a row to 10.2%, reaching double digits for the first time in nearly a year.