The Monetary Policy Committee (MPC) of the Banco de Moçambique has decided to keep the monetary policy rate, MIMO, unchanged at 9.25%. This decision reflects the materialisation and substantial exacerbation of several risks and uncertainties associated with inflation projections, most notably the outbreak of conflict in the Middle East and its impact on supply chains, as well as on the supply and prices of energy and food, which has led to an upward revision of inflation forecasts. Against this backdrop, the MPC has suspended the easing cycle initiated in January 2024, conditioning future policy decisions upon the evolution and materialisation of domestic and external risks and uncertainties.

Read the Communiqué here.