Fourth Revolution President Erick Chanda has described the move by the Central Bank to raise the policy rate to 15.5% from 12.5% as murderous.
On Tuesday the Bank of Zambia announced a rise in the base lending rate from 12.5% to 15.5% in an effort to curb the inflation that has spiraled. The current inflation rate is 14.3% year on year.
Mr. Chanda said it is very clear in the minds of the Zambian people that the PF came to destroy the country’s economy once and for all.Mr. Chanda said that the move by the Bank of Zambia to raise the policy rate to 15.5% from 12.5% in an effort to curb soaring inflation which hit double digits in October is a wrong resolution.
I don’t see Zambians voting on load shedding, I don’t see Zambians voting on mine closures, I don’t see Zambians voting for high mealie meal prices
‘This policy measure, as much as it is aimed at arresting inflation will only go to hurt the poor people because companies will increase prices to pay back the loans or close shop,’ he said.
Mr.Chanda charged that the PF will not rule Zambia beyond 2016 because of its loss in popularity.He said the social and economic challenges the PF has brought since 2011 will make it difficult for Zambians to give them fresh mandate.
Mr.Chanda said PF leaders are now blinded by power and are now enjoying and failing to see the misery they have caused.
‘I don’t see Zambians voting on load shedding, I don’t see Zambians voting on mine closures, I don’t see Zambians voting for high mealie meal prices, so the only way for the PF is to go out in 2016’ Mr Chanda said.