Mauritius cuts rates to record low

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The Bank of Mauritius has cut the country’s policy rate by 15 basis points to a record low of 3.35%, citing a weakening global economy and falling inflation.

The central bank announced the decision today (August 9), making it the first rate cut for the country since September 2017. The majority of its monetary policy committee “viewed that the inflation outlook provides room for a reduction in the policy rate as a pre-emptive move against the risks associated with weakening global growth”.

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