Mozambique central bank cuts key rate for seventh meeting in a row

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Mozambique central bank cuts key rate for seventh meeting in a row

4:28 CAT | 27 Jan 2025

File photo: Banco de Moçambique

Mozambique’s central bank cut its main interest rate by 50 basis points to 12.25%, it said on Monday, the seventh rate cut in a row.

The Southern African country saw annual inflation rise to 4.15% in December from 2.84% the previous month, likely reflecting the impact of deadly protests over October’s disputed election result that have disrupted businesses and cross-border trade.

Daniel Chapo of the long-ruling Frelimo party was declared winner of the election and sworn in as president this month after months of protests by the opposition, which says Frelimo won the vote through vote-rigging.

Frelimo denies accusations of electoral fraud.

Source: Reuters