Standard Bank opens Africa-China Agent; trade with Mozambique hit US$2bln this year
Photo: O País
The Bank of Mozambique and the Mozambican Association of Banks (AMB) have decided to maintain the prime rate for December at 18%. This is the indicator which serves as the basis for the ‘MIMO’ benchmark interest rate.
Based on this indicator, the Bank of Mozambique forecasts a 25 basis point drop in the cost of money in commercial banking to 12.50 per cent in December, as a result of declining inflation figures.
The benchmark interest rate has been 12.75 percent since October.
According to the Bank of Mozambique, leaving the rate unchanged is a response to fears of internal and external risks worsening, especially attacks in the centre and north of the country.
By Edson AranteSource: O País