21-05-2012 0:00:00

The Monetary Policy Committee of the Banco de Moçambique (CPMO – acronym in Portuguese), the monetary policy coordinating body, has decided, in its fifth ordinary meeting of the current year, held on May 10, to keep the policy interest rates unchanged at 13.50% for the Standing Lending Facility (FPC – acronym in Portuguese), 3.00% for the Standing Deposit Facility (FPD – acronym in Portuguese) and 8.25% for the Reserve Requirements ratio.

On the other hand, the CPMO has also decided to intervene in interbank markets in order to ensure that the stock of base money does not surpass 34,271 million meticais at the end of May 2012.

The Monetary Policy decisions are based on the less pessimistic perspectives for the global economic growth, notwithstanding the sovereign debt crisis prevailing in some Euro Zone countries, and the recent trends of international prices of commodities with impact on the CPI basket, combined with the Metical favourable exchange rate performance.