Mozambique's central bank holds key interest rate at 9.25% and adjusts bank reserve rules

In Maputo, Mozambique, the Bank of Mozambique's Monetary Policy Committee, led by new Governor Felisberto Navalha, decided to keep the MIMO interest rate at 9.25% and to modify the mandatory reserve regime for banks, starting from the next reserve period. The decision was driven by risks from climate shocks and geopolitical tensions affecting fuel and food prices. Inflation is expected to rise short-term but fall to single digits medium-term; August inflation was 6.5%. The next meeting is set for November 25, 2026.