Mozambique governor hikes rates by 600bp as inflation hits record high

The Bank of Mozambique
J Cornelius

The newly appointed governor of Mozambique's central bank raised interest rates by 600 basis points on October 21 as the country's inflation rate rose to its highest recorded level.

The bank's monetary policy committee raised the bank's policy rate from 17.25% to 23.25%. The rise was the fifth and by far the largest this year. It was also the first under the chairmanship of governor Rogerio Zandamela, who assumed the role in September.

Inflation in Mozambique reached 24.9% in September, the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account