Mozambique Interest Rate

Last Release

Sep 30, 2024

Actual

13.5

Units In

14.25

Frequency

Daily

Next Release

Nov 27, 2024

Time to Release

1 Months 23 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
23.25 Oct 2016	7.5 Nov 2014	13.61 %	2009-2024	N/A

In Mozambique, interest rates decisions are taken by the Monetary Policy Committee of the Central Bank of Mozambique (Banco de Moçambique). The official interest rate is the interbank money market rate (taxa do mercado interbancário moçambicano, MIMO). It was first introduced on April 10th 2017 and replaced the standing lending facility rate (taxa de juro da facilidade permanente de cedência).

Latest Updates

The Central Bank of Mozambique trimmed its key MIMO interest rate by another 75 bps to 13.50% at its meeting on September 30th, 2024. This marked the fifth consecutive rate reduction, prompted by a favorable inflation outlook. Policymakers stated that the decision is supported by the continued consolidation of inflation forecasts in single digits over the medium term, in a context where the assessment of risks and uncertainties associated with these projections remains favorable. The annual inflation rate in Mozambique fell to 2.75% in August 2024, the lowest since August 2020, easing from 2.97% in the prior month. The Comittee reiterated that the process of normalizing the rate is expected to continue in the medium term. Concerning growth, domestic economic activity is expected to expand at a moderate pace in the medium-term, despite the ongoing uncertainties regarding the impacts of climate shocks on agricultural production and various infrastructures.