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.