Bank of Mozambique keeps benchmark interest rates unchanged

17 April 2014

The Monetary Policy Committee of the Bank of Mozambique has maintained key benchmark interest rates unchanged, indicates a statement released by the institution on Wednesday.

Interest rates have been kept at 8.5 percent for the marginal lending facility, 1.50 percent for the deposit facility and 8 percent for the required reserves ratio.

The committee also decided to intervene in the interbank market to ensure that the volume of money in circulation does not surpass 46.451 billion meticais this April.

Last March Mozambique’s foreign reserves increased by US$394.8 million to US$3.1613 billion, equivalent to four months of coverage for goods and services imports. This was due to the entry into state coffers of US$525.1 million from capital gains taxes. (macauhub/MZ)