Bank of Mozambique keeps benchmark interest rates unchanged

12 August 2014

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

The interest rate for the liquidity absorption facility was kept at 1.50 percent and the compulsory reserve ratio at 8 percent, per decisions made at the latest meeting of the central bank’s monetary committee.

The committee affirms in the statement that inflation prospects in the short and medium term indicate that the year’s objectives should be attained, due to positive consumer price performance and the metical currency’s stability in the domestic exchange market.

The Bank of Mozambique’s monetary policy committee also decided to intervene in the interbank market to hold the circulating money supply at no more than 52.758 billion meticais at the end of this August. (macauhub/MZ)