Malawi makes first rate cut in three years

The Reserve Bank of Malawi, the country's central bank, reduced its bank rate to 17.5% from 20% yesterday, encouraged by falling inflation and a strong economic turnaround.

Malawi's finance minister, Goodall Gongwe, said that the central bank's decision was prompted by its policy of helping the private sector access to credit "at reasonable costs" and boosting economic economy which was essential for growth.

"We may have problems on the political front but on the economic front Malawi is doing

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