The Reserve Bank of Malawi cut its policy rate to 12% on November 6, the first time the central bank has reduced its policy rate this year.
“This decision is aimed at supporting economic recovery and job creation,” the central bank said in a statement. The monetary policy committee kept the Lombard rate and interest rates on deposits on hold at 12.2% and 3.75%, respectively.
The MPC noted headline inflation had declined and that the inflation outlook now looked “favourable”.
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