RBM Maintains Policy Rate Amid COVID19 Pandemic
The Reserve Bank of Malawi has maintained the Policy Rate at 13.5% on the basis that the economic outlook points to low growth prospects in 2020 among others due to the COVID-19 pandemic.
This is according to a statement by the Monitory Policy Committee following its third meeting of 2020 on 30th and 31st July.
Economic commentator Lewis Chiwalo however feels this does not reflect the economic situation in the country saying a 10% Policy Rate could have been a commendable and possible improvement to the country’s economy at large.
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