Mozambique's Central Bank Lowers Lending Rate for Second Time This Year

Mozambique's central bank, Banco de Moçambique, has made significant strides in its monetary policy by cutting its benchmark lending rate for the second time this year. The move comes after consumer inflation slowed to an almost four-year low, prompting the reduction to 15.75% from 16.5%. Governor Rogerio Zandamela announced the decision in the capital, Maputo. This marks the first time since the height of the pandemic that the bank has lowered rates at two consecutive meetings, signaling a positive turn for Mozambique's economic outlook.