Reserve Bank of Malawi cuts rates to 13.5%

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The Reserve Bank of Malawi (RBM) has cut rates by 100 basis points to 13.5%, citing a strong economic outlook and declining inflation.

In a statement on May 3, the monetary policy committee announced its sixth cut to interest rates since 2016, when the interest rate was 27%. Policy-makers described the economic outlook of the country as “quite positive”, and raised their forecast for GDP growth while lowering their inflation forecast.

The MPC said the new monetary policy stance “remains

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