The Central Bank of Mauritius unanimously decided to raise its key repo rate by 50 basis points to 4.5% in December of 2022. It marks the fifth rate hike so far this year, bringing borrowing costs to the highest since October of 2015, with the aim to close yield differentials with other countries, contain FX volatility and inflation pressures, whilst not undermining growth. Policymakers argued that the normalization process should be pursued since the macroeconomic costs associated with inflation expectations, if not properly anchored, are high. Further, the MPC deliberated that the positive growth performance so far continues to provide leeway for a normalization to anchor inflation expectations and bring inflation in 2023 down to below 6% from 10.6% in 2022. The Bank kept its growth projections at above 7% for 2022 and at around 5% for 2023. The recovery process is well entrenched and broad-based, underpinned by greater dynamism across major sectors of the economy, including tourism. source: Bank of Mauritius
Interest Rate in Mauritius averaged 4.15 percent from 2006 until 2022, 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 January of 2023.
Interest Rate in Mauritius is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mauritius Interest Rate is projected to trend around 3.00 percent in 2024, according to our econometric models.