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Asymmetry of the Interest Rate Pass through in Zambia

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Figure

Table 1: Stationarity Tests
Table 3: Bai-Perron (1998, 2003) tests for Multiple Structural Breaks for the pass-through of Money Market rate to other rates
Figure 3.1 below shows trends in retail rates (Deposit Rates, Lending rates) as well as the interbank rates and the 3-month TB yield rate
Table 1A in the appendix shows the full results which incorporates dummies for structural break dates for the pass-through from the policy rate (3-month TB rate) to other rates
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