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. source: Banco de Moçambique

The benchmark interest rate in Mozambique was last recorded at 9.25 percent. Interest Rate in Mozambique averaged 13.32 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 August 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
2026-03-23 02:00 PM Interest Rate Decision 9.25% 9.25% 9.25%
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 02:00 PM Interest Rate Decision 9.25% 9.25%
2026-11-25 02:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Foreign Exchange Reserves 3504.00 3470.00 USD Million May 2026
Interest Rate 9.25 9.25 percent Jul 2026
Lending Rate 15.50 15.50 percent Jun 2026
Money Supply M3 876575.00 885550.00 MZN Million May 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 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
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