{"id":20300,"date":"2022-05-30T16:39:33","date_gmt":"2022-05-30T16:39:33","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023"},"modified":"2022-05-30T16:39:33","modified_gmt":"2022-05-30T16:39:33","slug":"fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023","title":{"rendered":"Fitch Solutions forecasts interest rates rise to 15.75% this year and 16.75% in 2023"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Consultant Fitch Solutions expects the central bank of Mozambique to raise interest rates to 15.75% this year and 16.75% in 2023 to fight rising inflation in a context of economic acceleration.<\/p>\n

\u201cAt Fitch Solutions, we expect the Bank of Mozambique to raise the interest rate by a total of 250 basis points, to 15.75% in 2022,\u201d reads an analysis on the country\u2019s monetary policy, which also predicts that the interest rates will continue to rise in 2023, ending the year at 16.75%.<\/p>\n

According to the note sent to clients, to which Lusa has had access, this consultancy owned by the owners of credit-rating agency Fitch Ratings, Mozambique is expected to register annual economic growth of 5.3%, above the average of 4% recorded in the pre- pandemic years.<\/p>\n

\u201cMozambique\u2019s strong economic growth will give the central bank scope to raise interest rates this year. We expect gross domestic product (GDP) to grow by 5.3% this year, supported by investments and production in the gas sector, and above the average of 4% recorded in the five years prior to the pandemic,\u201d the analysts write.<\/p>\n

The Monetary Policy Committee of the Bank of Mozambique held its last meeting on May 19 and decided to maintain the monetary policy interest rate (MIMO rate) at 15.25%.<\/p>\n

\u201cThis decision is supported by the prospects of maintaining single-digit inflation [below 10%] in the medium term, despite the high risks and uncertainties associated with these projections, namely with the war in Ukraine,\u201d the central bank\u2019s Monetary Policy Committee said at the time.<\/p>\n

In April, annual inflation \u201caccelerated to 7.9%, against 6.7% in March, reflecting the increase in fuel and food prices\u201d.<\/p>\n

\u201cUnderlying inflation, which excludes the prices of managed goods and services and of fruits and vegetables, and which is impacted by monetary policy, remains stable.\u201d That is, \u201cfor the medium term, inflation is expected to continue\u201d in single digits, moderated, in part, by the stability of the metical, the Mozambican currency .<\/p>\n

On the other hand, the Monetary Policy Committee of the Bank of Mozambique in May said: \u201cthe prospects of economic growth for 2022 and 2023 are maintained\u201d, with GDP growing by 4.1% in the first quarter of 2022 and with the International Monetary Fund estimating a growth of 3 .8% this year and 5% in 2023.<\/p>\n

The next ordinary meeting of the Monetary Policy Committee of the Bank of Mozambique is scheduled for 27 July.<\/p>\n

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

Africa-Press – Mozambique. Consultant Fitch Solutions expects the central bank of Mozambique to raise interest rates to 15.75% this year and 16.75% in 2023 to fight rising inflation in a context of economic acceleration. \u201cAt Fitch Solutions, we expect the Bank of Mozambique to raise the interest rate by a total of 250 basis points, […]<\/p>\n","protected":false},"author":84,"featured_media":20299,"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-20300","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":"\nFitch Solutions forecasts interest rates rise to 15.75% this year and 16.75% in 2023 - Mozambique<\/title>\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\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch Solutions forecasts interest rates rise to 15.75% this year and 16.75% in 2023\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Mozambique. Consultant Fitch Solutions expects the central bank of Mozambique to raise interest rates to 15.75% this year and 16.75% in 2023 to fight rising inflation in a context of economic acceleration. \u201cAt Fitch Solutions, we expect the Bank of Mozambique to raise the interest rate by a total of 250 basis points, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023\" \/>\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=\"2022-05-30T16:39:33+00:00\" \/>\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\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fitch Solutions forecasts interest rates rise to 15.75% this year and 16.75% in 2023\",\"datePublished\":\"2022-05-30T16:39:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023\"},\"wordCount\":399,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/05\/img-6294f5ec3d6a8.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\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fitch-solutions-forecasts-interest-rates-rise-to-15-75-this-year-and-16-75-in-2023\",\"name\":\"Fitch Solutions forecasts interest rates rise to 15.75% this year and 16.75% in 2023 - 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