Mozambique delays MPC meeting by a month

MAPUTO, Capital Markets in Africa: The Mozambique central bank’s Monetary Policy Committee (MPC) will hold its next meeting in October and not September as earlier planned, the bank said on Friday, without giving reasons.

The MPC will hold its ninth meeting of the year on Oct. 21, the central bank said in a statement.

The bank lifted its main lending rate by 300 basis points to 17.25 percent in July due to soaring inflation and weakness in the currency caused by suspension of foreign aid by international donors.

Source: Reuters Africa News