Mozambique: Six out of ten Mozambicans have no savings
Bank of Mozambique keeps MIMO at 17.25%
12:53 CAT | 01 Dec 2022
File photo: Lusa
The Bank of Mozambique decided yesterday (30-11) to maintain the monetary policy interest rate (MIMO) at 17.25%.
“Inflation prospects point to a slowdown in the medium term,” the Monetary Policy Committee (CPMO) said in a statement.
In October, “annual inflation for the cities of Maputo, Beira and Nampula slowed to 11.08%, after [being] 12.01% in September, essentially reflecting the slowdown in food prices, with the emphasis on fruit and vegetables,” the CPMO notes.
“For the medium term, the prospect of a return to single-digit inflation is consolidated, due to the effects of the increases in the MIMO rate and the stability of the metical, despite the prevalence of high risks and uncertainties,” its statement concludes.
The next ordinary CPMO meeting is scheduled for 25 January, 2023.
Source: Diario Economico
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