Mozambique: Corrected Version – Bank of Mozambique Cuts Interest Rate

Maputo — Note to subscribers: this replaces an earlier story on the interest cut, which contained errors

The Monetary Policy Committee of the Bank of Mozambique (CPMO), meeting in Maputo on Wednesday, decided to cut its benchmark interest rate, known as the MIMO rate, from 9.5 per cent to 9.25 per cent.

A statement from the CPMO said the decision for only a small cut in interest rates was the result of “persistent inflationary risks, a slowdown in economic activity, and the severe impacts of…