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. source: Banco de Moçambique

The benchmark interest rate in Mozambique was last recorded at 9.50 percent. Interest Rate in Mozambique averaged 13.42 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 February of 2026.

The benchmark interest rate in Mozambique was last recorded at 9.50 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
2025-09-29 02:30 PM Interest Rate Decision 9.75% 10.25% 9.75%
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%
2026-03-25 02:00 PM Interest Rate Decision 9.25% 9.25%
2026-05-27 02:00 PM Interest Rate Decision
2026-07-29 02:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Foreign Exchange Reserves 4053.00 3937.00 USD Million Nov 2025
Interest Rate 9.25 9.50 percent Jan 2026
Lending Rate 15.70 15.70 percent Jan 2026
Money Supply M3 843098.00 832549.00 MZN Million Nov 2025


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 9.50 23.25 7.50 2009 - 2026 percent Daily

News Stream
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
Mozambique Continues Monetary Policy Loosening
The Central Bank of Mozambique slashed its key MIMO interest rate by 50 bps to 10.25% on September 29, 2025, marking the 11th consecutive rate reduction. This decision largely reflects expectations of single-digit inflation in the medium term, supported by a stable exchange rate and favorable international commodity prices, despite significant domestic risks and uncertainties. The central bank also said the MPC would continue to "normalize" the level of its benchmark rate, presumably at a moderate pace. The annual inflation rate in Mozambique quickened to 4.79% in August 2025, the steepest increase since November 2023, from 3.96% in July. Regarding growth, a gradual recovery in economic activity is expected over the medium term, excluding LNG production, partly supported by planned projects in strategic sectors.
2025-09-29