Mozambique Needs More Rate Hikes to Curb Inflation, Says IMF

Updated on
  • Central bank has raised interest rates 300 basis points
  • Inflation accelerated to 22 percent in Aug., growth is slowing

Mozambique needs to further increase its benchmark interest rate to counter rising inflation and prevent its currency from depreciating, the International Monetary Fund said, following a visit to the southern African nation.

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