Malawi - Tasso di interesse

The Reserve Bank of Malawi left its benchmark policy rate unchanged at 13.5 percent at its July 2019 meeting, saying inflation is expected to remain broadly stable and within the medium-term target. Policymakers added that the decision also aims to support diversification and higher economic growth. Annual inflation is projected to decrease to 9.0 percent in 2019, compared to 9.2 percent in the previous year while the GDP is expected to grow by 5.0 percent in 2019, up from 4.0 percent in 2018, mainly supported by the agriculture sector. The Lombard rate was also kept at 13.9 percent and the liquidity reserve requirement at 5.0 percent.

The Reserve Bank of Malawi reduced its benchmark policy rate by 100 bps to 13.5 percent at its May 3rd 2019 meeting, bringing the rate to its lowest since 2011. Policymakers noted that the positive macroeconomic outlook for 2019 remains firm, with inflation seen on a lower path. Inflation is projected to slow further to 8 percent in 2019, below an earlier estimate of 8.5 percent, as both non-food and food inflation should ease. GDP growth is expected to improve to 5 percent in 2019 from 4 percent in the prior year, supported by the agriculture sector and power supply. The bank also noted that the exchange rate remains broadly stable and expects it to continue for the rest of the year. The lombard rate was also cut to 13.9% from 14.9%; but were kept the liquidity reserve requirement for domestic currency deposits at 5% and for foreign currency deposits at 3.75%.

The Reserve Bank of Malawi reduced its benchmark policy rate by 150 bps to 14.5 percent on January 30th 2019, bringing the rate to its lowest since 2011. Policymakers argued that the risks to inflation experienced in 2018 are dissipating and the macroeconomic outlook for 2019 is favourable. The bank added that the decision is consistent with the attainment of the medium term inflation objective of 5 percent. GDP is expected to grow by 4.1 percent in 2019, due to a rebound in agriculture output; and inflation to average 8.5%, on course towards the target. The lombard rate was also cut to 14.9% from 18%; the liquidity reserve requirement to 5% from 7.5% for domestic currency deposits and to 3.75% from 7.5% for foreign currency deposits.