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Mozambique: CTA wants the Bank of Mozambique to further reduce interest rates
4:10 CAT | 03 Oct 2024
File photo: Noticias
The Confederation of Economic Associations of Mozambique (CTA) wants the country’s
central bank to further reduce the monetary policy interest rate as a way to boost the
activity of commercial banks in the importation of essential products.
CTA’s reaction comes after the Monetary Policy Committee of the Bank of Mozambique
announced this week a reduction in the monetary policy interest rate from 14.25% to
13.50%.
CTA’s position was expressed by the association’s vice president Zuneid Calumias during a press conference in Maputo on Wednesday.
CTA complains that commercial banks are facing a lack of foreign currency to meet the
demand for imports. Zuneid Calumias believes that the Bank of Mozambique is in a position to support the manufacturing sector through the country’s commercial banks, so as to attain the economic growth target projected for this year.
Source: Noticias
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