Cost of money up 10% in 5 months
Commercial banks in the country have increased lending rates by 10 percent between June and November. Rates reached 22.7 percent by November. This change has increased the cost of borrowing for households and businesses. Market analysts indicate that the Reserve Bank of Malawi is maintaining tight monetary conditions. This approach continues even as inflation shows signs of easing.
The country’s commercial banks have raised their lending rates by 10 percent since June this year to 22.7 percent in November, increasing the cost of money for businesses and households, data show. Money market analysts say that with inflation easing but still elevated, the Reserve Bank of Malawi (RBM) is keeping monetary conditions tight, a … The post Cost of money up 10% in 5 months appeared first on Nation Online .