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.
Interest Rate in Malawi averaged 24.15 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 August 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 12.50 in 12 months time. In the long-term, the Malawi Interest Rate is projected to trend around 12.50 percent in 2021, according to our econometric models.