Maputo — The Confederation of Mozambican Business Associations (CTA) has called on the Bank of Mozambique to reverse the interest rate increases announced a week ago.
On 11 January, the bank's Monetary Policy Committee announced that the key interest rates in the central bank's dealings with the commercial banks would rise by 100 base points. This means that when a commercial bank buys from the central bank, the interest it pays rises from 15.5 to 16.5 per cent.
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