Malawi jacks up rates to combat inflation

Fri May 11, 2012 7:35am GMT

BLANTYRE May 11 (Reuters) - Malawi's central bank raised its benchmark interest rate to 16 percent from 13 percent on Friday to combat inflation expected to follow from a sharp currency devaluation earlier this week, according to a central bank directive seen by Reuters. (Reporting by Frank Phiri; Editing by Ed Cropley)

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