Malawi's central bank lowered its policy rate by another 100 basis points to 13.50 percent, saying the monetary policy stance "remains adequately tight to guide inflation towards the medium-term objective of 5 percent" while future policy decisions will continue to be guided by inflation and progress in fiscal consolidation.
The Reserve Bank of Malawi (RBM) has reduced Policy Rate from 16 percent to 14.5 percent.
The Executive Board of the International Monetary Fund (IMF) today completed the first review of Malawi’s performance under its program supported by a three-year arrangement under the Extended Credit Facility (ECF). Completion of the review enables Malawi to draw the equivalent of SDR11.15 million, (about US$ 15.4 million), bringing total disbursements under the arrangement to SDR22.3 million (about US$ 30.9million).
Malawi's central bank lowered its policy rate by a further 200 basis points to 16.0 percent, citing "recent disinflation, inflation outlook and the desire to consolidate gains made in stabilizing the economy."
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