{"id":30023,"date":"2022-11-28T16:59:55","date_gmt":"2022-11-28T16:59:55","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1"},"modified":"2022-11-28T17:04:27","modified_gmt":"2022-11-28T17:04:27","slug":"interest-rate-of-1725-in-2023-metical-up-3-1","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1","title":{"rendered":"Interest rate of 17,25% in 2023, metical up 3.1%"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The consultancy Fitch Solutions expects the Bank of Mozambique to keep its benchmark interest rate at 17.25% next year, based on the economic growth of 6.5% and appreciation of the metical by 3.1%.<\/p>\n

According to the latest analysis of Mozambique\u2019s economic and monetary policy, this consultancy, owned by the same owners of the financial rating agency Fitch Ratings estimates that the Mozambican central bank will maintain the benchmark interest rate, known as MIMO.<\/p>\n

\u201cWe anticipate that the slowdown in price growth will limit the central bank\u2019s impetus to raise the rate and that strong economic growth will discourage a rate cut,\u201d the analysts wrote in the commentary sent to investors, to which Lusa had access.<\/p>\n

In the report, Fitch Solutions also writes that the metical should continue to trade in the same band of 63 to 64 meticais per dollar in the coming weeks, ending at 63.70 meticais per dollar at the end of the year.<\/p>\n

\u201cWe anticipate that the monetary policy committee will maintain the 17.25% rate at the 30 November meeting, after raising the rate by 400 basis points this year to 17.25%,\u201d the analysts wrote, noting that this was the highest rate since March 2018.<\/p>\n

Underpinning Fitch Solutions\u2019 forecast is the slowdown in inflation for the second consecutive time this year, to 11.8%, after reaching 12.1% in August, and is expected to end the year at 10.2%.<\/p>\n

\u201cIn 2023, we see the Bank of Mozambique keeping the interest rate at 17.25% due to the slowdown in inflation and the acceleration of Gross Domestic Product growth,\u201d the analysts stressed.<\/p>\n

The metical, the analysts wrote, is expected to appreciate 3.1% in 2023, to an average of 61.85 meticais per dollar, \u201cbased on improved macroeconomic fundamentals and rising revenues from gas exports\u201d.<\/p>\n

As for economic growth, Fitch Solutions expects Mozambique to record an expansion of 5.3% this year and 6.5% next year, above the five-year pre-pandemic average, when growth was 4%.<\/p>\n

\u201cThis is due to the low base effect and increased investment and production in the liquefied natural gas sector in the north of the country,\u201d the report concluded.<\/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 consultancy Fitch Solutions expects the Bank of Mozambique to keep its benchmark interest rate at 17.25% next year, based on the economic growth of 6.5% and appreciation of the metical by 3.1%. According to the latest analysis of Mozambique\u2019s economic and monetary policy, this consultancy, owned by the same owners of […]<\/p>\n","protected":false},"author":84,"featured_media":30022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-30023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nInterest rate of 17,25% in 2023, metical up 3.1% - Mozambique<\/title>\n<meta name=\"description\" content=\"The consultancy Fitch Solutions expects the Bank of Mozambique to keep its benchmark interest rate at 17.25% next year, ...\" \/>\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\/interest-rate-of-1725-in-2023-metical-up-3-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest rate of 17,25% in 2023, metical up 3.1%\" \/>\n<meta property=\"og:description\" content=\"The consultancy Fitch Solutions expects the Bank of Mozambique to keep its benchmark interest rate at 17.25% next year, ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1\" \/>\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=\"2022-11-28T16:59:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-28T17:04:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/11\/postQueueImg_1669642209.06.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\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\/interest-rate-of-1725-in-2023-metical-up-3-1#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Interest rate of 17,25% in 2023, metical up 3.1%\",\"datePublished\":\"2022-11-28T16:59:55+00:00\",\"dateModified\":\"2022-11-28T17:04:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1\"},\"wordCount\":347,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/11\/postQueueImg_1669642209.06.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/interest-rate-of-1725-in-2023-metical-up-3-1\",\"name\":\"Interest rate of 17,25% in 2023, metical up 3.1% - 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