Mozambique's Key Rate at Four-Year High as Inflation Surges
- Policymakers increase rate to 12.75 percent from 10.75 percent
- Consumer prices rose 12.2 percent in February from year before
This article is for subscribers only.
Mozambique’s central bank raised its benchmark policy rate to the highest level in four years as inflation continues to accelerate.
Policy makers increased the rate to 12.75 percent, the highest since June 2012, from 10.75 percent, the Maputo-based central bank said in a statement on its website on Wednesday. It’s the second increase since February, when the bank lifted the rate by one percentage point.