Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said that it has foreseen an improvement in the private sector, due to the recently lowered policy rate of 13.5%.

Reserve Bank of Malawi recently announced that the Monetary Policy Committee resolved to make a downward review of the policy rate, by 1.0%, from 14.5% in January.

MCCCI President Prince Kapondamgaga pointed out that though the above development will benefit the private sector, the commercial banks have the final say on the matter. “We only hope that the financial sector will respond favorably the current monetary policy position”