Bank of Mauritius makes first rate hike in over 10 years
Inflation risk prompts policy-makers to begin gradual tightening cycle
The Bank of Mauritius began to unwind a long period of monetary easing today (March 9), as it raised its policy rate for the first time since 2011.
The 15 basis point hike took the key repo rate to 2%. Central bank governor Harvesh Seegolam said there was a risk of rising inflation from second-round effects, as well as a “high degree of uncertainty” around the impact of Russia’s invasion of Ukraine.
“The monetary policy committee agreed that the accommodative monetary policy stance should
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