Mozambique: Central Bank Keeps Interest Rates Unchanged

The Bank of Mozambique on 21 July decided to keep its benchmark interest rate unchanged. A statement from the Central Bank’s Monetary Policy Committee (CPMO) stated that the Monetary Policy Rate (MIMO), used by the bank for its interventions on the interbank money market to regulate liquidity, remains at 15.25 per cent. This rate had risen by 200 base points, from 13.25 to 15.25 per cent, in late March.

The decision not to alter interest rates, the CPMO said, “is sustained by the prospect that…