The central bank of Mauritius decided unanimously to lift its key repo rate by 25 bps to 2.25% during its May 2022 meeting. It marks the second rate hike this year, bringing borrowing costs to the highest since March 2020. Policymakers noted that inflation in Mauritius has continued to increase, largely driven by supply-side factors including surging imported food and energy prices, lingering supply-chain disturbances and higher freight costs. The annual inflation rate hit a near 14-year high of 11% in April and inflationary pressures are expected to persist through 2022. Accordingly, the bank revised upwards its inflation forecast to 8.6% for 2022, with the outlook remaining subject to the evolving geopolitical situation and its impact on global commodity prices. Meanwhile, the economy continued to recover, spurred by sustained policy support and the lifting of travel restrictions. The growth projection for 2022 was maintained between 7%-8%, although downside risks persist. source: Bank of Mauritius

Interest Rate in Mauritius averaged 4.19 percent from 2006 until 2022, reaching an all time high of 9.25 percent in June of 2007 and a record low of 1.85 percent in April of 2020. This page provides - Mauritius Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mauritius Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

Interest Rate in Mauritius is expected to be 2.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mauritius Interest Rate is projected to trend around 3.00 percent in 2023 and 1.85 percent in 2024, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Mauritius Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-12-16 01:00 PM 1.85% 1.85% 1.85%
2022-03-11 01:00 PM 2% 1.85% 1.85%
2022-06-03 01:00 PM 2.25% 2% 2%


Related Last Previous Unit Reference
Interest Rate 2.25 2.00 percent Jun 2022
Foreign Exchange Reserves 7069.80 7278.90 USD Million May 2022
Central Bank Balance Sheet 426307.07 473661.10 MUR Million Apr 2022
Money Supply M3 774765.00 775331.27 MUR Million Apr 2022
Lending Rate 6.85 6.85 percent Mar 2022
Banks Balance Sheet 1970590.20 2020940.80 MUR Million Jan 2022
Money Supply M2 401094.00 402326.00 MUR Million Sep 2018
Money Supply M1 113970.00 113051.00 MUR Million Sep 2018

Mauritius Interest Rate
In Mauritius, interest rates decisions are taken by the Bank of Mauritius. The BoM’s official interest rate is the repo rate.
Actual Previous Highest Lowest Dates Unit Frequency
2.25 2.00 9.25 1.85 2006 - 2022 percent Daily

News Stream
Mauritius Hikes Key Rate to 2.25%
The central bank of Mauritius decided unanimously to lift its key repo rate by 25 bps to 2.25% during its May 2022 meeting. It marks the second rate hike this year, bringing borrowing costs to the highest since March 2020. Policymakers noted that inflation in Mauritius has continued to increase, largely driven by supply-side factors including surging imported food and energy prices, lingering supply-chain disturbances and higher freight costs. The annual inflation rate hit a near 14-year high of 11% in April and inflationary pressures are expected to persist through 2022. Accordingly, the bank revised upwards its inflation forecast to 8.6% for 2022, with the outlook remaining subject to the evolving geopolitical situation and its impact on global commodity prices. Meanwhile, the economy continued to recover, spurred by sustained policy support and the lifting of travel restrictions. The growth projection for 2022 was maintained between 7%-8%, although downside risks persist.
2022-06-03
Mauritius Hikes Key Rate to 2%
The Central Bank of Mauritius decided unanimously to lift its key repo rate by 15 bps to 2% during its March 2022 meeting. It was the first rate hike since June of 2011, amid concerns over growing inflationary pressures stemming from the Russia-Ukraine war. Policymakers noted that Inflation has gained traction across several economies, reflecting rising energy and food prices and lingering supply disruptions, among others. Domestically, headline inflation hit a 16-year high of 9% in February, on the back of higher fuel prices and food products, including local fresh vegetables. In light of these developments, the Bank irevised its inflation projection to around 6.7% for 2022 (vs 4% in December), subject to further headwinds from the Russia-Ukraine war. Meanwhile, domestic economy has remained on its recovery path due to appropriate policy actions. The economy of Mauritius is seen growing between 7-8% in 2022 depending, among others, on the number of tourist arrivals.
2022-03-13
Mauritius Holds Key Repo Rate Steady at 1.85%
The Central Bank of Mauritius decided unanimously to keep its key repo rate unchanged at a record low of 1.85% during its December of 2021 meeting, pointing the current monetary policy stance remains appropriate and supportive of economic recovery. On the domestic side, the full re-opening of borders and the on-going vaccination campaign, including deployment of booster doses, are strengthening economic recovery. However, the onset of the Omicron variant has brought some uncertainty to the tourism sector. Accordingly, the Bank has revised its growth rate projection for 2021 to around 5%. Policymakers also noted that domestic inflation has maintained its upward momentum on the back of upward price pressures emanating from both food and non-food products on the back of supply shocks, which are expected to subside in the medium term. In the absence of any further exogenous shocks, the Bank is projecting headline inflation at about 4% for 2021.
2021-12-16