MIMO POLICY RATE UNCHANGED AT 17.25%
Wednesday, 31 May 2023
The Monetary Policy Committee (MPC) of the Banco de Moçambique has decided to keep the MIMO policy rate unchanged at 17.25%. This decision is underpinned by the ongoing high risks and uncertainties associated with inflation forecasts, despite the prospects for single-digit inflation in the medium term.
The MPC has also decided to increase reserve requirements from 28.0% to 39.0% for domestic currency liabilities and 28.5% to 39.5% for foreign currency liabilities, in order to absorb the excessive liquidity in the banking system, with the potential to generate inflationary pressure.
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