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Mozambique Holds Key Interest Rate as Inflation Seen Peaking
MAPUTO (Capital Markets in Africa) – Mozambique’s central bank held its key lending rate, with inflation expected to peak as the debt-distressed nation’s currency stabilizes. The Monetary Policy Committee kept the benchmark rate at 23.25 percent, Governor Rogerio Zandamela told reporters Wednesday in the capital, Maputo.Banco de Mocambique has raised the monetary policy rate by a total 13.5 percentage points in past meetings this year to try stem spiraling consumer prices in the coal-producing country. Consumer prices have…
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