Bank of Mozambique keeps benchmark interest rates unchanged

16 June 2014

The Bank of Mozambique has kept the main benchmark interest rates unchanged, specifically the marginal lending facility at 8.25 percent, the central bank indicated in a statement released on Friday.

The other rate, the deposit facility, was kept at 1.50 percent, and the mandatory reserve ratio at 8.0 percent.

The Mozambican central bank’s Monetary Policy Committee also decided to intervene in the interbank market to ensure that the circulating money supply does not surpass 48.023 billion meticais at the end of this June.

The Bank of Mozambique’s interest rates have remained unchanged since October 2013, when the marginal lending facility was lowered by 50 basis points to 8.25 percent.

The Monetary Policy Committee indicated in the statement that the consumer price index of the three main cities (Maputo, Beira and Nampula) was down 0.35 percent in May, the first time this year that prices had fallen instead of risen. (macauhub/MZ)