BLANTYRE (Reuters) – Malawi’s central bank has kept its benchmark lending rate at 18%, it said on Thursday.
“The economic outlook has materially improved, after a sharper-than expected slowdown last year, due to the expected recovery in the agricultural sector and an improvement in (the) policy environment,” the Reserve Bank of Malawi said in a statement.
Inflation has also begun to moderate after several months of consecutive uptick, but it remains high and significantly above the target, it added.
(Reporting by Frank Phiri; Writing by Nellie Peyton; Editing by Alexander Winning)