The Reserve Bank of Malawi raised its benchmark policy rate by 400bps to 18 percent in its October 2022 meeting, the highest since November of 2017. The Monetary Policy Committee stated that the sharp increase in borrowing costs was necessary to restore price stability, noting that the absence of such measures would frustrate the country’s economic recovery and erode households' purchasing power. Inflation rose to a near 9-year high of 25.9% in September of 2022, largely due to soaring food costs. The MPC noted that the usual delay in the slowdown of consumer prices following higher energy and food costs internationally suggest that the CPI will remain elevated for a prolonged period. Consequently, inflation for 2023 is projected to be to 21.8 percent. source: Reserve Bank of Malawi
Interest Rate in Malawi averaged 22.99 percent from 2001 until 2022, reaching an all time high of 75.53 percent in February of 2001 and a record low of 12.00 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 November of 2022.
Interest Rate in Malawi is expected to be 18.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Malawi Interest Rate is projected to trend around 14.00 percent in 2023 and 12.00 percent in 2024, according to our econometric models.