Bank of Mauritius could push for new interest rate power

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The Bank of Mauritius should be given the power to regulate interest rate spreads and prevent banks from imposing higher borrowing costs on their customers, according to a report published last week.

The proposal was one of 100 recommendations made by a task force, chaired by the central bank's chief of legal services, Sonali Sewraj-Reetoo, on the terms and conditions of banking contracts in the Mauritian economy.

In their investigation, the task force identified a "profound resentment" towards

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