Banco de Moçambique cuts marginal lending rate to 9.5 percent

13 November 2012

Banco de Moçambique has decided to lower the interest rates for marginal lending by 100 basis points to 9.5 percent and for deposits by 25 basis points to 2.25 percent, the central bank indicated in a statement released on Monday in Maputo.

The compulsory reserve ratio was kept at 8 percent. The bank’s Monetary Policy Committee also decided to intervene in the monetary market to expand the circulating money supply to the limit of 39.136 billion meticais at the end of this November.

The statement indicates that the central bank has noted that despite the adverse international situation, the country’s main economic and financial indicators continue to perform in line with the macroeconomic programme set for 2012, particularly regarding inflation, whose rate at end-of-year is forecast to be less than the anticipated 5.6 percent. (macauhub)