Malawi cuts for first time in three years


The Reserve Bank of Malawi on Sunday lopped 200 basis points off its benchmark bank rate, taking it down to 13%, as inflation in the landlocked southern African country showed signs of abating.

"The decision to reduce the bank rate was made in light of good progress in made in reducing inflation to its current level, of 7.5%," Perks Ligoya, the governor of the central bank, said. The cut, the central bank's first since November 2007, was aimed at enabling credit access to the private sector, thu

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