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May 27 (Reuters) – Mozambique’s central bank cut its MIMO interest rate by 75 basis points to 15.00%, the third meeting in a row at which the rate has been reduced, the bank said on Monday.
The bank’s Monetary Policy Committee said in a statement that the decision was based on favourable forecasts while trying to keep inflation in single digits in the medium term.
The southern African country’s inflation edged up to 3.26% year on year in April MZCPIY=ECI from 3.03% in March, statistics agency data showed this month.
(Reporting by Tannur Anders; Editing by Alexander Winning)