Central Banks
Mozambique Cuts Rates Third Time in Row, Signals More to Come
- Monetary policy committee lowers key rate to 15% from 15.75%
- Governor says trend will be to keep reducing interest rates
A street trader wheels a cart laden with bananas along a street in Maputo, Mozambique.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
Mozambique’s central bank became the first in Africa to cut rates for a third straight time this year and indicated that it will continue to ease.
The Banco de Mocambique lowered its benchmark lending rate, known by its Portuguese acronym Mimo, by 75 basis points for a third successive time to 15%, Governor Rogerio Zandamela told reporters Monday in the capital, Maputo.