The Bank of Mozambique – the country’s central bank – this Wednesday (31-05) left unchanged the monetary policy interest rate (MIMO rate) at 17.25%, and increased the reserve requirement ratios of commercial banks. The measures aim at keeping inflation under control, a statement explains.According to the bank’s Monetary Policy Committee (CPMO), the decision to keep the MIMO rate at the level to which it rose eight months ago “is supported by the prevalence of high risks and uncertainties associated with the projections, despite the prospects of single-digit inflation in the medium term”.On the other hand, the regulator decided to raise the reserve requirement ratios (RRR) for liabilities in local currency from 28% to 39%, and in foreign currency from 28.5% to 39.5%, “with a view to absorbing excessive liquidity in the banking system, with the potential to generate inflationary pressure”. (ICE MAPUTO)

Fonte notizia: LUSA