Bank of Mozambique keeps key interest rates unchanged

16 September 2014

The Monetary Policy Committee of the Bank of Mozambique decided to keep its benchmark interest rates unchanged, including tits marginal lending rate at 8.25 percent, the Mozambican central bank said Monday.

Reserve requirement ratios were also kept unchanged at 8.0 percent and the interest rate on the deposit facility at 1.50 percent.

The Monetary Policy Committee also decided to intervene in the interbank market in order to ensure that cash in circulation does not exceed the target of 53 648 million meticals set for September.

Analysing the domestic situation, the Monetary Policy Committee noted positive inflation figures in the month of August, as well as for short and medium term forecasts, which increase the prospects of achieving the target of 6.0 percent set for the end of 2014, (macauhub/MZ)