Mozambique: Bank Cuts Interest Rates

Maputo — The Monetary Policy Committee of the Bank of Mozambique (CPMO), at a meeting in Maputo on Monday decided to cut its benchmark interest rate, the MIMO rate, by 50 base points.

Thus, the MIMO rate fell from 12.75 to 12.25 per cent. A CPMO statement said this decision “arises from the continued prospects of single digit inflation over the medium term, despite the increased risks and uncertainties associated with the projections, notably those arising from the post-election tensions, fiscal…