The Reserve Bank of Malawi (RBM) has maintained the policy rate at 14 percent.
This follows a meeting by the Monetary Policy Committee (MPC) which was held on Wednesday to review the recent economic developments.
According to Chairperson for the MPC, who is also Governor of the Reserve Bank, Dr Wilson Banda, the decision was arrived at to allow more time for the impact of the April 2022 policy rate increase to transmit through the economy.
However, the statement indicates that the global economic outlook remains uncertain due to the ongoing war in Ukraine, the resurgence of the Covid-19 Pandemic in China and tight financial conditions.
Reported by Austin Fukula, MBC Online Services.