The benchmark interest rate in Malawi was last recorded at 13.50 percent. Interest Rate in Malawi averaged 24.48 percent from 2001 until 2019, reaching an all time high of 75.53 percent in February of 2001 and a record low of 13 percent in August of 2010.

Interest Rate in Malawi is expected to be 12.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Malawi to stand at 11.50 in 12 months time. In the long-term, the Malawi Interest Rate is projected to trend around 10.75 percent in 2020, according to our econometric models.

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Malawi Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
13.50 13.50 75.53 13.00 2001 - 2019 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2019-01-30 01:40 PM 14.5% 16% 16%
2019-05-03 01:00 PM 13.5% 14.5% 14.5%
2019-07-31 01:00 PM 13.5% 13.5% 13.5%
2019-10-30 10:15 AM 13.5% 13.5% 12.5%
2020-01-30 10:00 AM 13.5% 13.5%

News Stream
Malawi Keeps Monetary Policy Steady
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.

Malawi Cuts Interest Rate by 100 Bps to 13.5%
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%.

Malawi Cuts Key Interest Rate to 14.5%
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.

Malawi Interest Rate
In Malawi, interest rates decisions are taken by the Reserve Bank of Malawi’s Monetary Policy Committee. The RBM’s official rate is the key interest rate.

Malawi Money Last Previous Highest Lowest Unit
Interest Rate 13.50 13.50 75.53 13.00 percent [+]
Money Supply M1 582600.00 569800.00 596600.00 56.40 MWK Million [+]
Money Supply M2 1222500.00 1252200.00 1282200.00 90.70 MWK Million [+]
Foreign Exchange Reserves 507.30 497.10 765.70 19.30 MWK Billions [+]