Mozambique cuts rates again as inflation undershoots target range

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The Bank of Mozambique yesterday decided to cut its benchmark interest rates by 25 basis points in the face of falling inflation and diminished business confidence. The move comes after the central bank held rates steady in July 2013, following a 50bp cut in June.

Inflation is persistently undershooting the predictions of both the Bank of Mozambique, which said in April it expected inflation to average 7% this year, and the International Monetary Fund (IMF), which elicited a commitment from the

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