Mozambique: Bank of Mozambique Cuts Interest Rates

Maputo — The Monetary Policy Committee of the Bank of Mozambique (CPMO), meeting in Maputo on Wednesday, announced a reduction of 75 base points in its benchmark interest rate, the MIMO rate.

The rate falls from 15 to 14.25 per cent. This is the fourth time this year that the CPMO has cut the MIMO rate. It started off the year at 17.25 per cent, then fell to 16.5 per cent in January, 15.75 per cent in March, 15 per cent in May, and now 14.25 per cent.

A statement from the CPMO said the decision…