RBM maintains policy rate at 13.5%

The Reserve Bank of Malawi (RBM) has maintained the policy rate at 13.5 percent, a move done in view of medium-term inflation outlook. 

RBM Governor, Dalitso Kabambe, announced this on today after a two-day meeting of the Monetary Policy Committee (MPC). The adopted policy stance is deemed adequately tight to deal with emerging risks while also aiding the growth momentum.

He said in arriving at this decision, the committee observed that although rising maize prices are likely to continue pushing up headline inflation in the first quarter of 2020, this elevation is deemed temporary and does not pose a risk to the medium-term inflation outlook