The Bank of Mozambique held its MIMO policy rate unchanged at 9.25% at its September 2026 meeting, keeping borrowing costs at their lowest level since December 2015 for the fourth consecutive meeting. The decision mainly reflects persistent high risks and uncertainties over the impact of climate shocks and prolonged geopolitical tensions in the Middle East and Europe, which could affect international fuel and food prices. Policymakers noted that headline inflation moderated to 6.5% in August from 7.5% in July, and it is expected to rise in the short term due to imported inflation from major trading partners, as well as higher prices for fruit and vegetables. In the medium term, it is expected to decelerate and return to single-digit levels, amid the prospect of lower international fuel and food prices, alongside a potential easing of geopolitical tensions. Meanwhile, the outlook for moderate economic growth remains unchanged. source: Banco de Moçambique

The benchmark interest rate in Mozambique was last recorded at 9.25 percent. Interest Rate in Mozambique averaged 13.28 percent from 2009 until 2026, 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 October of 2026.

The benchmark interest rate in Mozambique was last recorded at 9.25 percent. Interest Rate in Mozambique is expected to be 9.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mozambique Interest Rate is projected to trend around 7.50 percent in 2027 and 7.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-25 02:30 PM Interest Rate Decision 9.25% 9.25% 9.25%
2026-07-29 02:15 PM Interest Rate Decision 9.25% 9.25% 9.25%
2026-09-30 02:15 PM Interest Rate Decision 9.25% 9.25% 9.25%
2026-11-25 02:00 PM Interest Rate Decision 9.25%


Related Last Previous Unit Reference
Foreign Exchange Reserves 3437.00 3464.00 USD Million Jul 2026
Interest Rate 9.25 9.25 percent Sep 2026
Lending Rate 15.50 15.50 percent Aug 2026
Money Supply M3 882467.00 887890.00 MZN Million Jul 2026


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).
Actual Previous Highest Lowest Dates Unit Frequency
9.25 9.25 23.25 7.50 2009 - 2026 percent Daily

News Stream
Bank of Mozambique Leaves Policy Rate at 9.25%
The Bank of Mozambique held its MIMO policy rate unchanged at 9.25% at its September 2026 meeting, keeping borrowing costs at their lowest level since December 2015 for the fourth consecutive meeting. The decision mainly reflects persistent high risks and uncertainties over the impact of climate shocks and prolonged geopolitical tensions in the Middle East and Europe, which could affect international fuel and food prices. Policymakers noted that headline inflation moderated to 6.5% in August from 7.5% in July, and it is expected to rise in the short term due to imported inflation from major trading partners, as well as higher prices for fruit and vegetables. In the medium term, it is expected to decelerate and return to single-digit levels, amid the prospect of lower international fuel and food prices, alongside a potential easing of geopolitical tensions. Meanwhile, the outlook for moderate economic growth remains unchanged.
2026-09-30
Mozambique Holds Key Policy Rate at 9.25%
The Bank of Mozambique left its MIMO policy rate unchanged at 9.25% at its July 2026 meeting, maintaining borrowing costs at their lowest level since December 2015 for a third consecutive meeting. Headline inflation accelerated to 7.5% in June from 7.2% in May and is expected to remain elevated in the near term, reflecting higher global energy prices, before easing over the medium term. Meanwhile, economic activity is projected to moderate, with growth excluding natural gas estimated at 1.1% in the first quarter, down from 4.8% in the previous quarter, while output including natural gas is expected to contract 0.1%. Policymakers highlighted heightened uncertainty surrounding the duration of the Middle East conflict and its potential impact on supply chains, as well as international and domestic fuel and food prices. Future policy decisions will depend on evolving risks and uncertainties surrounding the inflation outlook.
2026-07-29
Mozambique Holds Key Rate Unchanged for 2nd Meeting
The Bank of Mozambique left its key MIMO interest rate at 9.25% in May 2026, the lowest level since December 2015, marking the second consecutive hold. The decision reflects the prevalence of high uncertainty over the duration of the Middle East conflict and its potential impact on supply chains, as well as international and domestic fuel and food prices. The annual inflation rate in Mozambique accelerated for the third consecutive month, reaching a six-month high of 4.41% in April 2026. Inflation is expected to accelerate in the short to medium term, potentially reaching double digits, depending on how the conflict evolves. Meanwhile, the Committee decided to increase the reserve requirement ratio for liabilities in domestic currency from 29% to 39%, aiming to absorb excess liquidity in the banking system that could generate additional inflationary pressure. The reserve requirement ratio for foreign currency liabilities was set at 29.5%.
2026-05-25