The Central Bank of Mauritius decided unanimously to keep its key repo rate unchanged at 1.85% during its July of 2020 meeting, highlighting the economic uncertainty caused by the Covid-19 crisis. Policymakers said that the current monetary policy stance remains appropriate, as previous rate cuts in March and April are still working through the economy. On the domestic front, the Committee noted that the Mauritian economy, in particular key sectors such as tourism and manufacturing, was already being buffeted by the pandemic. Accordingly, the GDP is projected to shrink by 12.5% in 2020, before recovering at an annual growth rate of 7% next year. Meanwhile, inflation is expected to remain low and stable, at about 2.5% in 2020 and at 2% in 2021.
Interest Rate in Mauritius averaged 4.63 percent from 2006 until 2020, reaching an all time high of 9.25 percent in June of 2007 and a record low of 1.85 percent in April of 2020. This page provides - Mauritius Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mauritius Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
Interest Rate in Mauritius is expected to be 0.85 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Mauritius to stand at 0.85 in 12 months time. In the long-term, the Mauritius Interest Rate is projected to trend around 0.85 percent in 2021 and 1.85 percent in 2022, according to our econometric models.