Mozambique Leaves Lending Rate Steady at 8.25%

At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.

In March, the annual consumer prices accelerated for the first time in five months to 3 percent. In 2013, the GDP advanced 7 percent, in line with expectations, but slower than 7.3 percent in 2012.

The central bank also took uncertainty over global growth into account to take its decision. 

The Bank will intervene in the interbank markets to accomplish the 46451 million Meticais base money target for April. 

The deposit facility rate and the reserve requirements ratio were left on hold at 1.5 percent and 8.0 percent, respectively.

Mozambique Leaves Lending Rate Steady at 8.25%

Joana Taborda |
4/16/2014 6:04:01 PM