Mozambique: Inflation turned to deflation in May
Image: Banco de Moçambique
Mozambique’s central bank on Wednesday cut its key MIMO interest rate to 15.75% from 16.50%, its second rate cut in a row.
The bank’s Monetary Policy Committee said in a statement the decision was based on favourable projections, adding that it was consistent with its goal of consolidating inflation in single digits in the medium term.
The southern African country’s inflation fell to 4.00% in February from 4.19% in January, statistics agency data showed earlier this month.
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