September 28, 2017 / 3:40 PM / a year ago

Malawi keeps benchmark lending rate at 18 percent

LILONGWE, Sept 28 (Reuters) - Malawi’s central bank said on Thursday it has left the benchmark lending rate unchanged at 18 percent as inflation remained inline with its projections and the Kwacha exchange rate was stable.

“This policy stance will help to consolidate the gains achieved so far in reducing inflation rate to ensure that it remains in single digit for a longer period to guarantee sustainably low interest rates, thereby enhancing economic growth over a long term horizon,” the central bank said in a statement after a two day meeting. (Writing by Olivia Kumwenda-Mtambo)

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