Mozambique governor hikes rates by 600bp as inflation hits record high
IMF spokesman says talks continuing over audit of government finances
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
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