The benchmark interest rate in Malawi was last recorded at 12 percent. source: Reserve Bank of Malawi

Interest Rate in Malawi averaged 23.72 percent from 2001 until 2021, reaching an all time high of 75.53 percent in February of 2001 and a record low of 12 percent in November of 2020. 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 May of 2021.

Interest Rate in Malawi is expected to be 12.00 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 11.00 in 12 months time. In the long-term, the Malawi Interest Rate is projected to trend around 11.00 percent in 2022, according to our econometric models.

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Malawi Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
12.00 12.00 75.53 12.00 2001 - 2021 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2020-07-31 10:00 AM 13.5% 13.5% 12.5%
2020-11-06 02:20 PM 12% 13.5%
2021-01-27 10:30 AM 12% 12% 12%
2021-04-30 11:00 AM 12% 12% 12%
2021-07-30 11:00 AM 12%

News Stream
Malawi Holds Key Interest Rate at 12%
The Reserve Bank of Malawi left its benchmark policy rate unchanged at a record low of 12% at its January 2021 meeting. The decision is aimed to contain the impending inflationary pressures whilst at the same time providing space for supporting recovery of the economy in the wake of the second-wave of the COVID-19 pandemic. The Committee also mentioned that the decision will allow the impact of the November 2020 policy rate reduction to transmit and permeate through the economy. Policymakers noted that the headline inflation has been declining since January 2020 to an average of 7.5% in the fourth quarter of 2020 although it is projected to average 7.8% in 2021. The economic growth outlook remains uncertain, largely dependent on the evolution of the COVID-19 pandemic. In general, domestic economic growth is likely to remain subdued in 2021.
Malawi Cuts Key Interest Rate to 12%
The Reserve Bank of Malawi lowered its benchmark policy rate by 150 bps to 12 percent at its November 2020 meeting, bringing the rate to its lowest level on record. The decision is aimed at supporting economic recovery and job creation. Policymakers noted that the headline inflation has been declining since January 2020 and the inflation outlook appears favourable. Inflation is now projected to average 8.6 percent in 2020 from an earlier estimate of 9.8 percent. In 2021, it is anticipated that inflation will continue to decline. Meanwhile, the economy is projected to grow 1.2 percent in 2020, far below 5.1 percent in 2019, reflecting the adverse impact of the pandemic on manufacturing, tourism and accommodation, health services and wholesale and retail trade sectors.
Malawi Holds Key Interest Rate Steady at 13.5%
The Reserve Bank of Malawi kept its benchmark policy rate unchanged at 13.5% during its July 2020 meeting chaired by the newly-appointed Governor Wilson Banda. Policymakers said that the adopted policy stance is appropriate to deal with emerging upward risks to the medium-term inflation path whilst also supporting economic activity hit hard by the global pandemic. Growth projection for 2020 was revised down to 1.9% from an earlier forecast of 5.5%, on account of the impact of protracted political uncertainty in the first half of the year and the COVID-19 pandemic including the associated containment measures. Inflation is expected to accelerate to 9.8% in 2020 from 9.4% a year before, amid impending significant inflationary pressures emanating from a gradual pick-up in food prices (largely maize), increased short term pressure on the exchange rate, increase in global oil prices and increased public sector financing requirements.

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.