The Central Bank of Mozambique left its benchmark MIMO interest rate steady at 14.25 percent during a surprise meeting on March 6th 2019 but raised the required reserve ratio for foreign currency by 900 bps to 36 percent, mentioning increasing external risks and a more volatile USD. The required reserve ratio for domestic currency was kept at 17 percent and the lending facility and the deposit facility interest rate were also left steady at 17.25 percent and 11.25 percent, respectively. Interest Rate in Mozambique averaged 13.30 percent from 2009 until 2019, 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.
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 14.50 percent in 2020, according to our econometric models.