Malawi raises key lending rate to 27.0 pct, cuts GDP forecast

Malawi's central bank lifted its benchmark lending rate by 200 basis points to 27 percent on Wednesday, saying persistently high inflation, a depreciating exchange rate and uncertainties on food prices and wage demands posed risks. The Reserve Bank of Malawi revised its 2015 economic growth estimate to 3.0 percent from an earlier forecast of 5.4 percent.