{"id":22110,"date":"2022-06-30T16:17:15","date_gmt":"2022-06-30T16:17:15","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july"},"modified":"2022-06-30T16:25:04","modified_gmt":"2022-06-30T16:25:04","slug":"mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july","title":{"rendered":"Mozambique keeps benchmark lending rate unchanged: at 20.6% in July"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The benchmark lending rate (\u2018prime rate\u2019) for credit operations in Mozambique will remain at 20.6% in July, after rising for two months, the Mozambican Association of Banks (AMB) announced yesterday.<\/p>\n

The rate calculated monthly by the Mozambican Association of Banks (AMB) and the Bank of Mozambique is based on a single index (calculated by the central bank) set at 15.3% and a cost premium of 5.3% (set by AMB), both unchanged.<\/p>\n

In May, the prime rate rose by 50 basis points and in June by a further 150 basis points to its current value. The increases were associated with the rise in the monetary policy interest rate (MIMO rate, which influences the formula for calculating the \u2018prime rate\u2019) instigated by the central bank in order to control inflation.<\/p>\n

Under pressure from global prices, year-on-year inflation in Mozambique rose to 9.31% in May, its highest value in the last four years and seven months.<\/p>\n

The creation of the prime rate was agreed between the central bank and the AMB in June 2017, with an initial value of 27.75%, to eliminate the proliferation of reference rates for the cost of money.<\/p>\n

The aim is for all credit operations to be based on a single rate plus a margin, or \u2018spread\u2019, to be added to or subtracted from the prime rate based on risk analysis of each contract, the institutions explained at the time.<\/p>\n

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

Africa-Press – Mozambique. The benchmark lending rate (\u2018prime rate\u2019) for credit operations in Mozambique will remain at 20.6% in July, after rising for two months, the Mozambican Association of Banks (AMB) announced yesterday. The rate calculated monthly by the Mozambican Association of Banks (AMB) and the Bank of Mozambique is based on a single index […]<\/p>\n","protected":false},"author":84,"featured_media":22108,"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-22110","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":"\nMozambique keeps benchmark lending rate unchanged: at 20.6% in July - Mozambique<\/title>\n<meta name=\"description\" content=\"The benchmark lending rate (\u2018prime rate\u2019) for credit operations in Mozambique will remain at 20.6% in July, after rising ...\" \/>\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-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambique keeps benchmark lending rate unchanged: at 20.6% in July\" \/>\n<meta property=\"og:description\" content=\"The benchmark lending rate (\u2018prime rate\u2019) for credit operations in Mozambique will remain at 20.6% in July, after rising ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july\" \/>\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=\"2022-06-30T16:17:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-30T16:25:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/06\/img-62bdce2791ca6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"749\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\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=\"1 minute\" \/>\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-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique keeps benchmark lending rate unchanged: at 20.6% in July\",\"datePublished\":\"2022-06-30T16:17:15+00:00\",\"dateModified\":\"2022-06-30T16:25:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july\"},\"wordCount\":244,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/06\/img-62bdce2791ca6.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-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-keeps-benchmark-lending-rate-unchanged-at-20-6-in-july\",\"name\":\"Mozambique keeps benchmark lending rate unchanged: at 20.6% in July - 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