Bank of Mozambique keeps key interest rates unchanged

13 April 2015

Mozambique’s main interest rates were kept unchanged by the Bank of Mozambique’s Monetary Policy Committee, including the marginal lending rate at 7.5 percent, according to a statement from the central bank.

The interest rate on the deposit facility remained at 1.50 percent and the reserve requirements at 8.0 percent at the meeting held Friday, when the central bank assessed the monetary policy document that reports the economic and financial information for the months of February and March 2015, as well as the latest developments for April for some indicators.

The Monetary Policy Committee also decided to intervene in the interbank market in order to ensure meet the cash in circulation target for April 2015, set at 55.52 billion meticais.

The Bank of Mozambique also said that the average international prices of the main commodities with significant weight in Mozambique’s balance of payments and influence on inflation in March generally continued to fall, especially sugar (-11.5 percent), wheat (-2.7 percent), aluminium (-2.1 percent) and oil (-1.8 percent). (macauhub/MZ)