Monetary Policy Committee set for first meeting in 2020

The Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM) is expected to meet for the first time this year from January 29 -30 to extensively deliberate on macroeconomic developments and projections.

The meeting comes as the country failed to maintain a projected average annual inflation rate of 9 percent in 2019.

Though the country managed to contain inflation within single digit during a greater period in 2019, overall inflation climbed to double digits to 10.4 percent in November up from single digit of 9.6 percent in October 2019 due to high maize prices.

RBM projected the inflation, which is a sustained increase in the general price level of goods and services over a period of time, to gradually decline to 5 percent in 2021.

During its 4th meeting for 2019 held in October, MPC decided to maintain the lending rate at 13.5 percent and interest rate at 0.4 percent above the interest rate.

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