Mozambique’s central bank held its benchmark MIMO interest rate steady at 13.25% during its July 2021 meeting. Policymakers said the decision is in line with prospects of single-digit inflation despite mounting risks to the economic outlook, namely the third wave of Covid-19. source: Banco de Moçambique

Interest Rate in Mozambique averaged 13.11 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 July of 2021.

Interest Rate in Mozambique is expected to be 14.25 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 14.75 in 12 months time. In the long-term, the Mozambique Interest Rate is projected to trend around 14.75 percent in 2022 and 15.50 percent in 2023, according to our econometric models.

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Mozambique Interest Rate

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


Calendar GMT Actual Previous Consensus TEForecast
2021-01-27 02:45 PM 13.25% 10.25% 10.25%
2021-03-17 02:20 PM 13.25% 13.25% 13.25%
2021-05-19 02:15 PM 13.25% 13.25% 13.25%
2021-07-21 02:20 PM 13.25% 13.25% 13.25%
2021-09-15 03:30 PM 13.25%
2021-11-24 03:30 PM


News Stream
Mozambique Holds Key Interest Rate Steady at 13.25%
Mozambique’s central bank held its benchmark MIMO interest rate steady at 13.25% during its July 2021 meeting. Policymakers said the decision is in line with prospects of single-digit inflation despite mounting risks to the economic outlook, namely the third wave of Covid-19.
2021-07-21
Mozambique Holds Key Interest rate at 13.25%
Mozambique's central bank left its benchmark MIMO interest rate steady at 13.25% during its May 2021 meeting, citing heightened risks and uncertainties linked to military instability in the north of the country and new strains of the Covid-19 virus. Despite the risks, inflation forecasts were revised lower in the short-term, amid the recent appreciation of the metical and subdued economic activity. Meantime, the economy is expected to recover slower than initially projected in 2021, due to weak domestic demand, coupled with the suspension of the gas exploration project by French energy giant Total following March's jihadist attacks in Mozambique's northern Cabo Delgado province.
2021-05-19
Mozambique Holds Key Interest Rate Steady at 13.25%
Mozambique's central bank left its benchmark MIMO interest rate unchanged at 13.25% during its March 2021 meeting, after raising it by 300 bps in January, citing the prevalence of high risks and uncertainties. Policymakers mentioned particularly domestic risks linked the uncertainty regarding the evolution of the pandemic, the impacts of natural disasters and the duration of military instability, especially in the north of the country. Meanwhile, inflation forecasts were revised lower in the short and medium-term to a single-digit, largely reflecting the current trend towards the appreciation of the metical due to the measures taken at the January meeting, in a context of weak economic activity. Meantime, the economy is expected to recover slightly in 2021, mainly supported by expectations of a resumption in external demand as a result of progress in vaccinations, the adoption of fiscal stimulus packages and the progressive easing of Covid-19 restrictions.
2021-03-17
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 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).