Inflation eases to 9.2 percent - The Times Group Malawi

Inflation eases to 9.2 percent - The Times Group Malawi: Malawi’s headline inflation eased by 0.3 percentage points to 9.2 percent in September 2019 from 9.5 percent in August, latest figures from the National Statistics Office (NSO) show.

This is first time for inflation to drop since May this year. However, the rate remains high when compared to this year’s lowest record of 7.9 percent registered in February.

The NSO figures show that food inflation stood at 13.9 percent in the month under review from 14.6 percent in August 2019.

This is despite a stable increase in maize prices, Malawi’s staple food, currently trading between K12,500 and K15,000 per 50 Kilogramme bag in some parts of the country.

IMF hopeful on ECF programme – The Nation Online

IMF hopeful on ECF programme – The Nation Online: The International Monetary Fund (IMF) has expressed optimism over the public finance management reform under the Extended Credit Facility (ECF) programme which it says will open the door for more budget support.

Outgoing IMF resident representative Jack Ree said in an interview on Tuesday that the programme has been performing relatively well so far, and the augmentation of the funding of the programme is being discussed by the fund’s management.

Inflation target revised upwards - The Times Group Malawi

Inflation target revised upwards - The Times Group Malawi: Reserve Bank of Malawi (RBM) has revised upwards 2019 annual inflation projection from eight percent to nine percent owing to elevated maize prices.

In its Monetary Policy Committee (MPC) Report issued last week, RBM however, says this is temporary and will likely “unwind in the near term.”

Business | The Times Group

Business | The Times Group: By Chimwemwe Mangazi: The International Monetary Fund (IMF) has said the five percent inflation rate target for Malawi is attainable in the medium term if the country does not slacken on the... Read more

IMF backs Reserve Bank of Malawi’s 5% inflation target | The Times Group

IMF backs Reserve Bank of Malawi’s 5% inflation target | The Times Group: The International Monetary Fund (IMF) has said the five percent inflation rate target for Malawi is attainable in the medium term if the country does not slacken on the economic gains registered in the recent past.

Reserve Bank of Malawi (RBM), recently, set an ambition to achieve an inflation target of five percent by the first quarter of 2021.

Banks react to policy rate cut | The Times Group

Banks react to policy rate cut | The Times Group: By William Kumwembe:


Kabambe

Commercial banks in the country have started lowering their base lending rates in reaction to the Reserve Bank of Malawi’s (RBM) recent downward revision of the policy rate.

As we went to press, two of the country’s 11 commercial banks, Standard Bank and MyBucks Banking Corporation, had announced to have restructured their interest rates.

MyBuck’s maximum lending interest rate to its borrowers will be 25.5 percent, down from 26.6 percent according to a statement issued Wednesday.

The bank says the specific interest rate applicable to individual borrowers will depend on perceived credit risks associated with the individual borrowers, as well as specific categories of credit facilities.

In a separate statement, Standard Bank announced that it has adjusted its Base Lending Rate from 14.9 percent to 13.9 percent.

The bank has revised its Maximum Lending Rate from 25.9 percent to 24.9 percent, saying that rates for savings, call and fixed deposits would remain unchanged.

Reserve Bank of Malawi cuts rate to 13.5 % | The Times Group

Reserve Bank of Malawi cuts rate to 13.5 % | The Times Group: Borrowers from commercial banks and other micro-finance institutions should heave a sigh of relief following a slash in policy rate — a key driver of interest rates on loans— by the Reserve Bank of Malawi (RBM).

At the end of the second Monetary Policy Committee (MPC) meeting Friday, MPC Chairperson and RBM Governor Dalitso Kabambe announced the policy rate slash from 14.5 to 13.5 percent.

Banks react to policy rate cut | The Times Group

Banks react to policy rate cut | The Times Group: The country’s commercial banks have started reacting to last month’s policy rate cut by the Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM).

While the banks had little freedom to decide the base lending rates as it was set at the Lombard rate of14.9 percent by MPC, the banks have started pulling downwards their maximum lending rates.

Malawi central Bank cuts policy rate to 14.5% - The Maravi Post

Malawi central Bank cuts policy rate to 14.5% - The Maravi Post: BLANTRYRE-(MaraviPost)-The Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM) Wednesday reduced the indicative cost of money, technically known as the policy rate, by 1.5 percentage points from 16 to 14.5 percent. This is the first time in 13 months for MPC to trim the policy rate which was last revised downwards in December 2017.

Inflation quickens to 9.3% in August | The Times Group

Inflation quickens to 9.3% in August | The Times Group: Malawi’s headline quickened by 0.3 percentage points in August to 9.3 percent as escalating food prices continued to bite, the National Statistical Office (NSO) has said.

This was the second month inflation has surged after making a u-turn in July.

Reserve Bank maintains bank rate at 16% | The Times Group

Reserve Bank maintains bank rate at 16% | The Times Group: Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM) Wednesday resolved to maintain the country’s indicative cost of borrowing, technically known as bank or policy rate, at 16 percent.

The decision did not come as a surprise considering the inflationary pressures the economy has been experiencing in recent months emanating from rising food and non-food prices.

Rate cut fails to boost credit growth - The Nation Online

Rate cut fails to boost credit growth - The Nation Online: "YOU ARE HERE: Home → Rate cut fails to boost credit growth

Rate cut fails to boost credit growth
Grace Phiri June 5, 2018 0 Comments


Despite the Reserve Bank of Malawi (RBM) reducing the policy rate to 16 percent, the lowest in seven years, credit growth for the private sector remains subdued, the World Bank has said.

World Bank senior country economist Patrick Hettinger said in an interview on Friday the central bank has maintained a tight monetary stance, continues to monitor and mop up excess liquidity to keep the interbank rate (IBR) close to the policy rate to ensure that inflation remains under control.

He said low level of access to finance through the banking sector remains a significant constraint to private sector performance"



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Reserve Bank of Malawi miantains policy rate at 18 percent - The Maravi Post

Reserve Bank of Malawi miantains policy rate at 18 percent - The Maravi Post: "LILONGWE-(MaraviPost)-The Reserve Bank of Malawi (RBM) has maintained policy rate at 18 percent, a decision made at the Monetary Policy Committee (MPC) and the Liquidity Reserve Requirement at 7.5 per cent in trying to keep with the latest developments in the economy and the need to keep the inflation firmly on the downward path.
The announcement has come through a statement made by MPC after it conducted a review meeting for global and domestic economic developments and it has been signed by Chairman of the committee, Dr Dalitso Kabambe, who is also Reserve Bank of Malawi Governor."



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