Malawi central bank lifts benchmark lending rate to 25 percent

Malawi's central bank says it has increased its benchmark lending rate by 250 basis points to 25 percent, it said on Friday, attempting to temper high inflation.

The bank in a statement, said the Committee observed that inflation outcomes for the second half of 2014 have generally been higher than during the second half of 2013.

It added that looking ahead, inflation is expected to accelerate to 25.4 percent in December 2014, largely due to rising food prices and the depreciating Kwacha.