{"id":13527,"date":"2022-02-07T16:37:35","date_gmt":"2022-02-07T16:37:35","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=13527"},"modified":"2022-02-07T15:34:26","modified_gmt":"2022-02-07T15:34:26","slug":"mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year","title":{"rendered":"Oxford Economics forecasts interest rate hikes this year"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Consultancy Oxford Economics Africa on Thursday said that Mozambique\u2019s central bank would this year increase the key interest rate to 14%, up 75 percentage points, because of global credit conditions and rising inflation.<\/p>\n

\u201cGiven that we recently increased our forecast for inflation in Mozambique significantly, from 5.4% to 7.3%, and considering the expected tighter monetary policy this year, we anticipate that the central bank of Mozambique will increase the key interest rate by 75 points, to 14%, in 2022,\u201d the consultancy\u2019s comment on Mozambican monetary policy reads.<\/p>\n

Last week, the Monetary Policy Committee (CPMO) of the Bank of Mozambique decided to maintain the monetary policy interest rate (MIMO rate) at 13.25%.<\/p>\n

\u201cThis decision is supported by the slight improvement in the prospects of domestic inflation in the short and medium term, despite the worsening of risks and uncertainties,\u201d the central bank says in a statement, presenting as the main risks fiscal pressure, climate shocks in the country and increase in oil and food prices on the international market.<\/p>\n

\u201cThe central bank maintained an exceptionally high interest rate to balance the high risks to inflation and the dismal investment environment,\u201d Oxford Economics writes in the note sent to customers, to which Lusa has had access.<\/p>\n

The Bank of Mozambique predicts \u201ca lesser acceleration of inflation\u201d, a reflection of \u201cthe stability of the metical, despite the prospects of rising prices for food and oil on the international market\u201d, the bank\u2019s note says, which comes after the National Statistics Institute registered inflation of 6.7% last year.<\/p>\n

\u201cThe prospects for improving economic activity in 2022 are also maintained,\u201d thanks to \u201cthe relaxation of measures to contain the spread of Covid-19, the execution of natural gas projects in the Rovuma basin and the greater dynamics of the external sector\u201d.<\/p>\n

As in previous communiqu\u00e9s, the central bank warns of the need for \u201cstructuring reforms in the economy\u201d and states that \u201cdomestic public debt has increased\u201d.<\/p>\n

In December 2021, domestic public debt, excluding loan and lease agreements and arrears, \u201cincreased by 2.4 billion to 220.6 billion meticais\u201d, around \u20ac3 billion.<\/p>\n

The next ordinary CPMO meeting is scheduled for March 30.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Consultancy Oxford Economics Africa on Thursday said that Mozambique\u2019s central bank would this year increase the key interest rate to 14%, up 75 percentage points, because of global credit conditions and rising inflation. \u201cGiven that we recently increased our forecast for inflation in Mozambique significantly, from 5.4% to 7.3%, and considering the […]<\/p>\n","protected":false},"author":84,"featured_media":13526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-13527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nOxford Economics forecasts interest rate hikes this year - Mozambique<\/title>\n<meta name=\"description\" content=\"Consultancy Oxford Economics Africa on Thursday said that Mozambique\u2019s central bank would this year increase the key int ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oxford Economics forecasts interest rate hikes this year\" \/>\n<meta property=\"og:description\" content=\"Consultancy Oxford Economics Africa on Thursday said that Mozambique\u2019s central bank would this year increase the key int ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-07T16:37:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/02\/img-62013b114932f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oxford Economics forecasts interest rate hikes this year\",\"datePublished\":\"2022-02-07T16:37:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year\"},\"wordCount\":362,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/02\/img-62013b114932f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-oxford-economics-forecasts-interest-rate-hikes-this-year\",\"name\":\"Oxford Economics forecasts interest rate hikes this year - 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