The Bank of Mozambique maintained its main policy rate at 9.25% in March 2026, keeping it at its lowest level since December 2015 and pausing the easing cycle that began in 2024. The decision reflects rising external concerns regarding inflation expectations, driven by the conflict in the Middle East, as well as domestic uncertainty surrounding production and supply chains following flood-related damage earlier in the year. Headline inflation rose to 3.2% in February, after reaching a little over one-year low of 3.04% in January. The economy expanded by 4.7% in the final quarter of 2025, following a contraction of 0.9%, reflecting improved performance. Economic growth expectations have moderated with activity projected to increase slowly and gradually. Meanwhile, domestic public debt continues to deteriorate, hindering financial markets, as delays in the payment of domestic public debt by the State persist, impacting the demand for government bonds and the rigidity of interbank rates. source: Banco de Moçambique

The benchmark interest rate in Mozambique was last recorded at 9.25 percent. Interest Rate in Mozambique averaged 13.40 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 April 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 7.00 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-11-14 02:10 PM Interest Rate Decision 9.5% 9.75% 9.75%
2026-01-28 02:30 PM Interest Rate Decision 9.25% 9.5% 9.25%
2026-03-23 02:00 PM Interest Rate Decision 9.25% 9.25% 9.25%
2026-05-27 02:00 PM Interest Rate Decision 9.25%
2026-07-29 02:00 PM Interest Rate Decision
2026-09-30 02:00 PM Interest Rate Decision 8.75%


Related Last Previous Unit Reference
Foreign Exchange Reserves 4152.00 4123.00 USD Million Jan 2026
Interest Rate 9.25 9.25 percent Mar 2026
Lending Rate 15.60 15.70 percent Feb 2026
Money Supply M3 856232.00 850628.00 MZN Million Jan 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
Mozambique Keeps Key Policy Rate at 9.25%
The Bank of Mozambique maintained its main policy rate at 9.25% in March 2026, keeping it at its lowest level since December 2015 and pausing the easing cycle that began in 2024. The decision reflects rising external concerns regarding inflation expectations, driven by the conflict in the Middle East, as well as domestic uncertainty surrounding production and supply chains following flood-related damage earlier in the year. Headline inflation rose to 3.2% in February, after reaching a little over one-year low of 3.04% in January. The economy expanded by 4.7% in the final quarter of 2025, following a contraction of 0.9%, reflecting improved performance. Economic growth expectations have moderated with activity projected to increase slowly and gradually. Meanwhile, domestic public debt continues to deteriorate, hindering financial markets, as delays in the payment of domestic public debt by the State persist, impacting the demand for government bonds and the rigidity of interbank rates.
2026-03-23
Mozambique Cuts Rates to 9.25%, Lowest Since 2015
The Bank of Mozambique cut its main policy rate by 25 basis points to 9.25% at its first meeting of 2026, extending an easing cycle that began in 2024 and taking borrowing costs to their lowest level since 2015. The decision was supported by expectations that inflation will remain in single digits over the medium term, despite rising risks and uncertainties, particularly from recent flooding and elevated trade and geopolitical tensions. Mozambique’s inflation rate slowed to 3.23% in December from 4.38% in November, marking its lowest level in 13 months and staying in line with the central bank’s single-digit inflation target. However, inflation is expected to pick up later this year, driven by some monetary financing of the budget deficit, the restart of major LNG construction projects, and the possibility of a metical devaluation.
2026-01-28
Mozambique Trims Key Policy Rate to 9.5%
The Central Bank of Mozambique cut its key MIMO interest rate by 25 bps to 9.5% on November 14, 2025, the lowest since November 2015, marking the 12th consecutive rate reduction. The decision largely reflects continued expectations of single-digit inflation in the medium term, despite concerns over delays in public debt payments. Policymakers noted that the annual inflation rate in Mozambique eased only slightly to 4.8% in October 2025, from 4.9% in the prior month. Meanwhile, the central bank warned that risks and uncertainties surrounding inflation projections remain high. "In the medium term, beyond the impacts of climate shocks and the slow recovery of productive capacity and supply of goods and services, delays in the government’s payment of domestic public debt instruments represent a significant concern.”, said Governor Rogério Zandamela.
2025-11-14