Mozambique's central bank left its benchmark MIMO interest rate unchanged at 10.25 percent during its August 2020 meeting, after cutting it by 100 bps in June. The decision was based on a deterioration in the medium-term inflation prospects as well as risks and uncertainties linked to the Covid-19 pandemic and armed conflicts in the north of the country. The short and medium-term estimates indicate that the inflation rate will remain in a single-digit but it is seen accelerating, amid the combined effect of a weaker Metical and the recovery of fuel prices in international markets. Meanwhile, the bank continued to project a deeper contraction in economic activity in 2020 and a slower recovery in 2021, as disruptions in production and demand should persist in the medium-term.

Interest Rate in Mozambique averaged 13.19 percent from 2009 until 2020, reaching an all time high of 23.25 percent in October of 2016 and a record low of 7.50 percent in November of 2014. This page provides - Mozambique Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mozambique Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

Interest Rate in Mozambique is expected to be 10.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Mozambique to stand at 9.25 in 12 months time. In the long-term, the Mozambique Interest Rate is projected to trend around 9.25 percent in 2021, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Mozambique Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
10.25 10.25 23.25 7.50 2009 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-02-27 01:10 PM 12.75% 12.75% 12.25%
2020-04-16 02:45 PM 11.25% 12.75% 12.75%
2020-06-17 04:20 PM 10.25% 11.25% 10%
2020-08-20 03:30 PM 10.25% 10.25% 10.25%


News Stream
Mozambique Holds Key Interest rate at 10.25%
Mozambique's central bank left its benchmark MIMO interest rate unchanged at 10.25 percent during its August 2020 meeting, after cutting it by 100 bps in June. The decision was based on a deterioration in the medium-term inflation prospects as well as risks and uncertainties linked to the Covid-19 pandemic and armed conflicts in the north of the country. The short and medium-term estimates indicate that the inflation rate will remain in a single-digit but it is seen accelerating, amid the combined effect of a weaker Metical and the recovery of fuel prices in international markets. Meanwhile, the bank continued to project a deeper contraction in economic activity in 2020 and a slower recovery in 2021, as disruptions in production and demand should persist in the medium-term.
2020-08-20
Mozambique Slashes Key Interest Rate to 10.25%
Mozambique's central bank cut its benchmark MIMO interest rate by 100 bps to 10.25 percent during its June 2020 meeting, due to the worsening risks and uncertainties in the domestic economy resulting from the military instability in the country's northern area and the uncertain magnitude of the pandemic's impact. The decision was supported by a further downward revision of the inflation outlook for the medium term, in a scenario in which more contracted aggregate demand is expected in 2020 and a soft recovery in 2021, reflecting the restrictions in economic activity associated with the challenges imposed by Covid-19 both domestically and internationally.
2020-06-17
Mozambique Cuts Interest Rates by 150bps
Mozambique's central bank slashed its benchmark MIMO interest rate by 150bps to 11.25 percent in an emergency move on April 16th, bringing borrowing costs to the lowest level since early 2016, aimed to helping mitigate the negative impact of the coronavirus pandemic on the economy.
2020-04-16
Mozambique Keeps Key Interest Rate Steady at 12.75%
The Central Bank of Mozambique left its benchmark MIMO interest rate unchanged at 12.75% during its February 2020 meeting, amid concerns about the worsening domestic and external risks, mentioning the military instability in the northern area of the country along with uncertainties regarding the impact of the recent floods and drought, and, externally, the coronavirus outbreak. Meantime, inflation projections were revised upwards, due to the impact of climatic factors on future price dynamics; and the expected depreciation of the metical in the short-term as well as surging food prices in international markets. Still, inflation is expected to remain in single-digits over the medium-tern. Regarding growth, the economy is seen recovering in 2020 but below its potential, helped by the implementation of investments in natural gas exploration, the materialization of post-cyclone reconstruction projects, improving business confidence and the partial settlement of state debts.
2020-02-27

Mozambique Interest Rate
In Mozambique, interest rates decisions are taken by the Monetary Policy Committee of the Central Bank of Mozambique (Banco de Moçambique). The official interest rate is the interbank money market rate (taxa do mercado interbancário moçambicano, MIMO). It was first introduced on April 10th 2017 and replaced the standing lending facility rate (taxa de juro da facilidade permanente de cedência).