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 June 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.