Mozambique leaves lending rate unchanged, economy to grow

by Reuters 26 views0

Kenya’s Diamond Trust Bank jumps 17% in pretax Nigeria sets 2020 goal to have 80 per cent of its population financially included in the banking system.

Mozambique’s central bank kept its benchmark lending rate unchanged at 7.5 per cent, partly citing a slowdown in domestic inflation.

In a statement posted on its website, the Bank of Mozambique said a slowdown in the global economy and the persistent decline in prices posed a risk for the country’s balance of payments.

Mozambique’s economy to grow 7 per cent in 2015: IMF

Mozambique’s economy is expected to grow by 7 per cent in 2015, although there are downside risks to the outlook, partly due to declining commodity prices, the International Monetary Fund said on Tuesday.

Inflation in the southern African country is expected to accelerate to 5.5 per cent by year-end, the IMF said at the conclusion of a visit.

In a budget statement last month, the government forecast gross domestic product would grow by 7.5 per cent this year.