Africa Banking Economy Finance Mozambique

Mozambique cuts key lending rate to 22% on falling inflation

Mozambique’s central bank reduced its benchmark lending rate by 50 basis points to 22 percent, the regulator’s website showed on Thursday.

The Bank of Mozambique said its monetary policy committee had also decided to reduce the monetary policy interest rate, or MIMO, by 50 basis points to 21 percent.

The bank said slowing consumer price-growth, which fell to 10.76 percent year on year in September from 14.13 percent in August, was the key factor in the decision to lower rates.

Source: Reuters

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