The Mozambican Banking
Association (AMB) announced on Friday that the reference interest rate for
credit operations in Mozambique will remain at 21.2% in August, after six
decreases since the beginning of the year. This rate, known as the “prime
rate”, had been falling since 2018 until it reached a minimum of 15.5% in
February 2021, when the trend reversed, and the rate began to rise until it
reached 24.10% in July last year.
In January 2024, the rate
returned to the values of April 2023 (23.5 %) after six consecutive months at
highs of 24.10%, remaining unchanged in February by the AMB’s decision at
23.50%. It then fell in March to 23.10%, in April to 22.70%, in May to 22.30%,
in June to 22%, and in July to 21.20%.
“This decision is underpinned by
the continued consolidation of the inflation outlook in single digits in the
medium term, in a context where the uncertainties associated with the
projections remain favourable,” said the governor of the Bank of Mozambique
during the presentation of the measures taken by the CPMO. The central bank and
AMB agreed in 2017 to create the prime rate to eliminate the proliferation of
reference rates on the cost of money.
At the time, it was launched with
a value of 27.75%.
The promoters explained that the
aim is for all credit operations to be based on a single rate, plus a margin
(“spread”), which will be added to or subtracted from the “prime rate” by
analysing the risk of each contract.
0 comentários:
Post a Comment