Mauritius cuts after special meeting

The Bank of Mauritius has cut its benchmark interest rate by 50 basis points to 7.75% during a specially convened meeting on Friday.

The Mauritian central bank said the meeting had been convened to "discuss recent developments on international financial markets and the global economic crisis."

The central bank said members of the monetary policy committee had "noted that the domestic banking sector is sound, stable, profitable and well-capitalised, and is not facing the same liquidity, capita