Bank of Mozambique raises monetary policy interest rate to 17.25

The Monetary Policy Committee of the Bank of Mozambique decided today to increase the monetary policy interest rate, the MIMO rate, from 15.25% to 17.25%.

A communiqué received in our editorial office states that the measure aims to ensure the return of inflation to single digits, in the medium term, in a context in which it is expected that the volatility of the prices of energy and food products will continue at international level, in view of the prolongation of the conflict between Russia and Ukraine.

According to the document, forecasts of economic recovery in 2022 and 2023 are maintained, despite the prospects of a slowdown in external demand sustained by the execution of energy projects in Inhambane and in the Rovuma basin and by the start of liquefied gas exports, in the context of implementing the program with the International Monetary Fund and resuming external assistance from cooperation partners. (RM)

Watch announcement by Banco de Moçambique on YouTube