Mozambique's central bank cut its benchmark MIMO interest rate by 100 bps to 10.25 percent during its June 2020 meeting, due to the worsening risks and uncertainties in the domestic economy resulting from the military instability in the country's northern area and the uncertain magnitude of the pandemic's impact. The decision was supported by a further downward revision of the inflation outlook for the medium term, in a scenario in which more contracted aggregate demand is expected in 2020 and a soft recovery in 2021, reflecting the restrictions in economic activity associated with the challenges imposed by Covid-19 both domestically and internationally.
Interest Rate in Mozambique averaged 13.23 percent from 2009 until 2020, 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 August of 2020.
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. Looking forward, we estimate Interest Rate in Mozambique to stand at 8.00 in 12 months time. In the long-term, the Mozambique Interest Rate is projected to trend around 8.00 percent in 2021 and 9.25 percent in 2022, according to our econometric models.