Industry captains have complained that the adjusted policy rate will affect their businesses.
The concern by Lekani Katandula, President of the Malawi Confederation of Chambers of Commerce and Industry follows a decision by the central bank to adjust to 14 percent the policy rate in order to contain the impact of the pressures on inflation.
Speaking to MIJ Online, Katandula said the adjustment of the policy rate- will result in an increase in the interest rate by commercial banks- which is going to make it difficult for business people to borrow from the banks.