Mozambique Holds Rate But Cuts Monetary Base Target
Mozambique’s central bank held its benchmark standing facility rate steady at 9.50 percent but said it would reduce the monetary base to 38.50 billion meticais by the end of January to help meet its 2013 goals of 6.5 percent inflation and 8.4 percent real economic growth. The Bank of Mozambique (CPMO), [...]
Mozambique’s central bank held its benchmark standing facility rate steady at 9.50 percent but said it would reduce the monetary base to 38.50 billion meticais by the end of January to help meet its 2013 goals of 6.5 percent inflation and 8.4 percent real economic growth.
The Bank of Mozambique (CPMO), which cut its key rate by 550 basis points in 2012, said inflation in southern Africa had been relatively stable due to good harvests, the decline in international … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards