The Reserve Bank of Malawi left its benchmark policy rate steady at 13.5% during an unscheduled two-day meeting in April of 2020 when it announced the release of USD 16 million across the banks to enable them to support sectors hit by the Covid-19. In this regard, the lombard rate and the liquidity reserve requirement rate were cut to 13.7% and 3.75%, respectively. Policymakers added that maintained the policy rate to mitigate against potential upward risks from the pandemic while monitoring developments as they evolve and act as and when necessary. According to them, the recent strong agricultural harvests have boosted growth, but the evolution for the remainder of the year will depend on the impact of the pandemic on several sectors. Still, economic growth is seen rising further to 6-7% in the medium term, backed by the infrastructure, access to credit and crop diversification. Inflation is expected to slow to 9.3% in 2020 from 11.5% a year before, as food inflation should ease.
Interest Rate in Malawi averaged 24.34 percent from 2001 until 2020, reaching an all time high of 75.53 percent in February of 2001 and a record low of 13 percent in August of 2010. This page provides - Malawi Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malawi Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.
Interest Rate in Malawi is expected to be 13.50 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 13.50 in 12 months time. In the long-term, the Malawi Interest Rate is projected to trend around 13.50 percent in 2021, according to our econometric models.