February 18, 2016 / 3:37 PM / 4 years ago

Malawi keeps key lending rate at 27 percent

LILONGWE (Reuters) - Malawi’s central bank left its benchmark lending rate unchanged at 27 percent on Thursday as a drought that has hit its key agriculture sector threatens growth.

The Reserve Bank of Malawi said due to the drought it would likely downgrade its 2016 economic growth forecast of 5.6 percent. Malawi’s economy grew 3 percent in 2015.

Writing by Olivia Kumwenda-Mtambo; Editing by Joe Brock

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