The Bank of Mozambique decided on Wednesday to maintain the monetary policy interest rate, MIMO rate, at 17.25%.
“The inflation outlook points to a deceleration over the medium term,” the Monetary Policy Committee (CPMO) noted in a statement.
In October, “annual inflation, which covers the cities of Maputo, Beira and Nampula, slowed to 11.08 percent, after 12.01 percent in September, essentially reflecting the slowdown in food prices, especially fruit and vegetables,” he said.
“For the medium term, the outlook is for a return of inflation to single digits, resulting from the effects of increases in the MIMO rate and the stability of the metical, despite the prevalence of high risks and uncertainties,” concluded the CPMO.
The next regular meeting of the CPMO is scheduled for January 25, 2023.