The Bank of Mozambique lowered its main interest rate, called the MIMO rate, from 15 to 14.25 percent, justifying it with the prospect of inflation remaining in single digits in the medium term. This decision is supported by the continued consolidation of the inflation outlook in single digits in the medium term, in a context in which the uncertainties associated with the projections remain favorable”, said the governor of the Bank of Mozambique, Rogério Zandamela, during the presentation of the measures taken, this Wednesday, by the Mozambican financial regulator. In addition to taking this decision, the Bank of Mozambique once again made a positive assessment of the evolution of systemic risk. “The inflation outlook remains in single digits in the medium term and, in June 2024, annual inflation remained stable, standing at 3 percent after 3.1 percent in May”, he declared. According to the governor, the pressure on the Domestic public debt remains high. “Domestic public debt, excluding loan and lease agreements and outstanding liabilities, stood at 377.9 billion meticais, representing an increase of 65.6 billion compared to December 2023,” he said. (RM/NMinuto) Source: Rádio Moçambique Online
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