The central bank of Mozambique left its key MIMO rate steady at 17.25% in the first monetary policy meeting of 2023. Policymakers said the decision takes into account upside risks and uncertainties related to inflation although it is expected to slow to single digit in the medium term. The annual inflation rate fell to 10.29% in December from 10.62% in November. At the same time, the central bank revised its growth projections lower, citing more restrictive global financing conditions and a slowdown expected for major trading partners. The central bank also decided to increase the required cash reserve ratio for national currency to 28% from 10.5% and to 28.5% from 11.5% for foreign currency, aiming to absorb excess liquidity. source: Banco de Moçambique

Interest Rate in Mozambique averaged 13.30 percent from 2009 until 2023, 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 February of 2023.

Interest Rate in Mozambique is expected to be 17.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mozambique Interest Rate is projected to trend around 16.25 percent in 2024 and 15.00 percent in 2025, according to our econometric models.

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Mozambique Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-30 03:00 PM 17.25% 15.25% 15.25%
2022-11-30 02:00 PM 17.25% 17.25% 17.25%
2023-01-25 02:00 PM 17.25% 17.25% 17.25%
2023-03-29 02:00 PM 17.25% 17.25%
2023-05-31 02:00 PM 17.25%
2023-07-26 02:00 PM 17.25%


Related Last Previous Unit Reference
Interest Rate 17.25 17.25 percent Jan 2023
Money Supply M3 600641.00 606769.00 MZN Million Nov 2022
Foreign Exchange Reserves 2684.00 2716.00 USD Million Nov 2022
Lending Rate 22.60 22.50 percent Nov 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
17.25 17.25 23.25 7.50 2009 - 2023 percent Daily

News Stream
Mozambique Leaves Key Rate Unchanged, Raises RRR
The central bank of Mozambique left its key MIMO rate steady at 17.25% in the first monetary policy meeting of 2023. Policymakers said the decision takes into account upside risks and uncertainties related to inflation although it is expected to slow to single digit in the medium term. The annual inflation rate fell to 10.29% in December from 10.62% in November. At the same time, the central bank revised its growth projections lower, citing more restrictive global financing conditions and a slowdown expected for major trading partners. The central bank also decided to increase the required cash reserve ratio for national currency to 28% from 10.5% and to 28.5% from 11.5% for foreign currency, aiming to absorb excess liquidity.
2023-01-25
Mozambique Holds Key Rate at 17.25%
Mozambique’s central bank kept its benchmark MIMO interest rate unchanged at 17.25% during its November 2022 meeting, after lifting it by a massive 200 bps in September, to counteract strong inflationary pressures. Policymakers said the decision was supported by the maintenance of high risks and uncertainties, highlighting the effects of the persistence of political tension in Europe and the consequent slowdown in external demand, despite the prospects for a return to single digits in the medium term. The annual inflation rate in Mozambique eased for the second straight month to 11.83% in October of 2022, from 12.01% in the prior month and a peak of 12.1% in August. Regarding growth, the Bank anticipates a slight slowdown in the expansion of economic activity in the medium term in view of the potential reduction in external demand and restrictive financial conditions. Meanwhile, the implementation of energy projects is expected to continue supporting domestic economic growth.
2022-11-30
Mozambique Hikes Interest Rate by 200 bps
Mozambique’s central bank lifted its benchmark MIMO interest rate by 200 bps to 17.25% during its September 2022 meeting, bringing borrowing costs to the highest since March of 2018. Policymakers said that the decision aims to bring inflation back to single digits. The annual inflation rate in Mozambique topped 10% in June and reached 12.1% in August, the highest since 2017.
2022-09-30