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 May 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.

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Malawi Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
13.50 13.50 75.53 13.00 2001 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
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 01:30 PM 13.5% 13.5% 13.5%
2020-04-03 11:15 AM 13.5% 13.5%
2020-07-30 10:00 AM 13.5%
2020-10-30 10:00 AM 13.5%


News Stream
Malawi Keeps Key Interest Rate at 13.5%
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.
2020-04-03
Malawi Leaves Interest Rate Steady at 13.5%
The Reserve Bank of Malawi kept its benchmark policy rate unchanged at 13.5% during its January 2020 meeting, saying that expected food price pressures in Q1 2020 are temporary and do not pose a risk to the medium-term inflation target of 5% (+/-2%). Policymakers noted that headline inflation averaged 9.4% in 2019, slightly higher than 9.2% in 2018 and bank's projections, and it is projected to average 8.8% in 2020, amid favourable weather conditions and continued exchange rate stability. The GDP is estimated to have grown 5% in 2019 from 4% in 2018, largely driven by recovery in the agriculture sector. For 2020, the GDP growth is seen between 5-6%, supported by agriculture as well as favourable macroeconomic conditions. The Lombard rate and the Liquidity reserve requirement were also left at 13.9 percent and 5.0 percent, respectively.
2020-01-30
Malawi Holds Key Interest Rate at 13.5%
The Reserve Bank of Malawi left its benchmark policy rate unchanged at 13.5 percent at its October 2019 meeting, saying that the rise in food prices is seen as temporary and does not pose a risk to the medium-term inflation target. Annual inflation is projected to average 9 percent in 2019 and to gradually decline to 5 percent in 2021, contingent on favourable weather pattern in the next two growing seasons as well as prudent fiscal management. Policymakers also noted that the GDP continues to recover and is expected to grow by 5 percent in 2019, despite the adverse effects of Cyclone Idai and the weak performance of tobacco exports. The Lombard rate and the Liquidity reserve requirement were also kept at 13.9 percent and 5.0 percent, respectively.
2019-10-30
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.
2019-07-31

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.