Mozambique's central bank raised its benchmark MIMO interest rate by 300 bps to 13.25% during its January 2021 meeting, bringing borrowing costs to the highest since July of 2019. The decision is aimed to address rising inflationary pressures as a result of the accelerated spread of COVID-19, the occurrence of natural calamities and disruptions associated with military instability. The short and medium-term estimates point to a significant acceleration in inflation, amid the continued depreciation of the metical and the end of government's price caps measures in the context of the COVID-19 and climate shocks. The country's economic recovery in 2021 is expected to be slower than previously anticipated, linked to the reinforcement of restrictive measures amid the acceleration of the pandemic, especially in the tourism sector. The adverse effect of military conflicts in the northern zone and its impact on natural gas projects alongside climate shocks also weighed negatively. source: Banco de Moçambique

Interest Rate in Mozambique averaged 13.15 percent from 2009 until 2021, reaching an all time high of 23.25 percent in October of 2016 and a record low of 7.50 percent in November of 2014. This page provides - Mozambique Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mozambique Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Interest Rate in Mozambique is expected to be 13.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Mozambique to stand at 14.25 in 12 months time. In the long-term, the Mozambique Interest Rate is projected to trend around 15.50 percent in 2022, according to our econometric models.

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Mozambique Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
13.25 10.25 23.25 7.50 2009 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-08-20 03:30 PM 10.25% 10.25% 10.25%
2020-10-21 02:30 PM 10.25% 10.25% 10.25%
2020-12-16 02:25 PM 10.25% 10.25% 10.25%
2021-01-27 02:45 PM 13.25% 10.25% 10.25%
2021-03-17 03:30 PM 13.25% 13.25%
2021-05-19 03:30 PM 13.25%
2021-07-21 03:30 PM
2021-09-15 03:30 PM


News Stream
Mozambique Hikes Key Interest Rate to 13.25%
Mozambique's central bank raised its benchmark MIMO interest rate by 300 bps to 13.25% during its January 2021 meeting, bringing borrowing costs to the highest since July of 2019. The decision is aimed to address rising inflationary pressures as a result of the accelerated spread of COVID-19, the occurrence of natural calamities and disruptions associated with military instability. The short and medium-term estimates point to a significant acceleration in inflation, amid the continued depreciation of the metical and the end of government's price caps measures in the context of the COVID-19 and climate shocks. The country's economic recovery in 2021 is expected to be slower than previously anticipated, linked to the reinforcement of restrictive measures amid the acceleration of the pandemic, especially in the tourism sector. The adverse effect of military conflicts in the northern zone and its impact on natural gas projects alongside climate shocks also weighed negatively.
2021-01-27
Mozambique Holds Key Interest Rate Steady at 10.25%
Mozambique's central bank left its benchmark MIMO interest rate at 10.25% during its December 2020 meeting. The decision was justified by the maintenance of the prospects for accelerating prices in the medium term, associated with high risks and uncertainties, in a context in which a slow recovery in economic activity is expected in 2021. The Committee reiterated that the mitigation of prevailing risks and the promotion of sustainable growth requires further structural measures.
2020-12-16
Mozambique Holds Key Interest Rate Steady at 10.25%
Mozambique's central bank left its benchmark MIMO interest rate at 10.25% during its October 2020 meeting, citing a deterioration in the medium-term inflation prospects amid persistent risks and uncertainties. The short and medium-term estimates indicate that the inflation rate will accelerate despite remaining in a single-digit. Meantime, the bank continued to project a contraction in economic activity in 2020 and a gradual recovery in 2021, supported by natural gas projects. Policymakers also warned of the growing pressure on public finances due to the increased financial needs to mitigate the negative impact of the pandemic and expenses related to military instability in the central and northern areas of the country.
2020-10-21
Mozambique Holds Key Interest rate at 10.25%
Mozambique's central bank left its benchmark MIMO interest rate unchanged at 10.25 percent during its August 2020 meeting, after cutting it by 100 bps in June. The decision was based on a deterioration in the medium-term inflation prospects as well as risks and uncertainties linked to the Covid-19 pandemic and armed conflicts in the north of the country. The short and medium-term estimates indicate that the inflation rate will remain in a single-digit but it is seen accelerating, amid the combined effect of a weaker Metical and the recovery of fuel prices in international markets. Meanwhile, the bank continued to project a deeper contraction in economic activity in 2020 and a slower recovery in 2021, as disruptions in production and demand should persist in the medium-term.
2020-08-20

Mozambique Interest Rate
In Mozambique, interest rates decisions are taken by the Monetary Policy Committee of the Central Bank of Mozambique (Banco de Moçambique). The official interest rate is the interbank money market rate (taxa do mercado interbancário moçambicano, MIMO). It was first introduced on April 10th 2017 and replaced the standing lending facility rate (taxa de juro da facilidade permanente de cedência).