12 °c
London
Sunday, June 26, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Mozambique: Prime rate returns to decrease, falls to 19.3% in July

FurtherAfrica by FurtherAfrica
July 2, 2019
in Africa, Banking, Currency, Economy, Finance, Mozambique
Reading Time: 1 min read
880 18
0
Bank of Mozambique wants to see tourism revenues reflected in National Accounts

Mozambique central bank - banco de moçambique

Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

The benchmark interest rate of the Mozambican financial system (prime rate) is to descend for the first time since February, from 19.5% to 19.3%, as announced on Friday by the Association of Mozambican Banks and the central bank in a statement.

The amount in July is to fall in line with the decision of the Bank of Mozambique announced on 19 June of lowering the monetary policy rate. Since it was created, the reference rate has never risen and has dropped 8.45 percentage points. The creation of the prime rate was agreed on 17 May 2017 by the central bank and the Association of Mozambican Banks to eliminate the proliferation of reference rates for loans.

The idea was that all credit operations were to be based on a single rate, “plus a spread that would be added or subtracted from the prime rate depending on the risk analysis” of each contract, the organisers said.

In another table published by the Association of Mozambican Banks and the central bank presented the standard spread of 17 different banks.

Depending on the bank, the spread for individuals varied between 2.50 and 30.20 percentage points for consumer credit and between 1.0 and 6.0 for mortgages

Company credit could be as low as zero or as high as 21.80 points for loans of up to one year and between 1.0 and 21.80 points for longer maturities.

Leasing operations are subject to spreads between 2.0 and 7.75 points for moveable property leasing and between 1.50 and 7.75 for real estate leasing.

Source: Lusa via Club of Mozambique

Related

Tags: Association of Mozambican BanksBanco de MoçambiqueBank of Mozambiqueinterest rateMozambiquePrime Rateмозамбикموزمبيقモザンビーク莫桑比克
ScanSendShare359Tweet225Share63Pin81Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Angola TAAG to open Luanda-Madrid route
Travel

Angola TAAG to open Luanda-Madrid route

by FurtherAfrica
June 26, 2022
Economy

Zimbabwe plans triple-digit interest rate hike to tame inflation

by FurtherAfrica
June 26, 2022
Economy

World Bank forecast Mozambique average growth at 5.7% in 2022-2024

by FurtherAfrica
June 26, 2022
Travel

9 fun places in Nigeria for a perfect family takeout

by See Africa Today
June 26, 2022
Spotify takes big dive into Africa
Music

Spotify and COLORS collaborate to promote Nigeria musical talent

by BOTSWANA UNPLUGGED
June 26, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

Angola TAAG to open Luanda-Madrid route
Travel

Angola TAAG to open Luanda-Madrid route

by FurtherAfrica
June 26, 2022
0

Direct flights between Luanda and Madrid, operated by the Angolan airline TAAG, start Monday (27), representing an added value for...

Read more

Zimbabwe plans triple-digit interest rate hike to tame inflation

June 26, 2022

World Bank forecast Mozambique average growth at 5.7% in 2022-2024

June 26, 2022

9 fun places in Nigeria for a perfect family takeout

June 26, 2022
Spotify takes big dive into Africa

Spotify and COLORS collaborate to promote Nigeria musical talent

June 26, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...