Mauritius policy interest rate
The Key Rate (KR) — the Bank of Mauritius policy rate that signals the monetary policy stance, set by the Monetary Policy Committee (a statutory committee under the Bank of Mauritius Act 2004) at roughly quarterly meetings. The Bank operates a symmetric 200-basis-point corridor around the Key Rate: an Overnight Lending Facility at KR +100bp and an Overnight Deposit Facility at KR -100bp, with a 2-5 per cent inflation target (3.5 per cent medium-term midpoint).
| Current value | 4.75 percent |
|---|---|
| In force from | 2026-05-20 |
| Official source | Bank of Mauritius — Media Release, 20 May 2026: 'The Monetary Policy Committee of the Bank of Mauritius raises the Key Rate by 25 basis points'. The seven members present voted unanimously to raise the Key Rate by 25 basis points from 4.50 to 4.75 per cent per annum at the meeting held that day; minutes released 3 June 2026. Level corroborated on the Bank's own Key Rate ticker (bom.mu, '4.75 %, 20 May 2026') |
| Last verified | 2026-07-24 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
SERVE THE KEY RATE, NOT THE 'REPO RATE'. Mauritius abolished the Key Repo Rate (KRR) on 16 January 2023 when the Bank of Mauritius's new monetary policy framework took effect (announced 13 January 2023). The Bank's own framework communiqué states that the 'Key Rate' replaces the Key Repo Rate as the policy rate used to signal the stance of monetary policy, that its level was set at the same level as the Key Repo Rate (4.50 per cent), and that the Bank maintains a symmetric 200bp corridor around it through standing facilities (Overnight Lending Facility at KR+100bp, Overnight Deposit Facility at KR-100bp); the framework also adopted an explicit 2-5 per cent inflation target with a 3.5 per cent medium-term midpoint, replacing the December 2006 framework. Any source still quoting a Mauritian 'Repo Rate' or 'Key Repo Rate' is describing an instrument discontinued in January 2023 and is stale — the last KRR was 4.50 per cent, set by the MPC on 14 December 2022 (+50bp). Framework communiqué: https://www.bom.mu/monetary-policy/monetary-policy-framework/new-framework-conduct-monetary-policy-bank-mauritius. The 20 May 2026 hike was the first move since February 2025 and reverses the direction of the easing cycle: the MPC cited y-o-y inflation rising to 3.6 per cent in April 2026 from 2.7 per cent in March, projected headline inflation averaging around 5.5 per cent in 2026, elevated core inflation, and real GDP growth revised down to 2.8 per cent for 2026 (from 3.3-3.5 per cent) on high fuel and electricity prices and softer tourism; upside risks were tied to Middle East geopolitical tension feeding global energy prices and supply chains. Latest decision as of confirmation. ACCESS NOTE for the source-watcher: the canonical BoM MPC communiqués index (https://www.bom.mu/monetary-policy/monetary-policy-committee/mpc-communiques) renders 'No data found' — use the Interest Rate Decisions listing (https://www.bom.mu/monetary-policy/monetary-policy-committee/interest-rate-decisions), which is current, or the Key Rate ticker on the BoM homepage. BoM does not publish a forward calendar of MPC dates on its Meetings page (that page is populated only to 2017); the next meeting date is disclosed inside each Monetary Policy Statement. Meetings have run 11 Feb 2026, 20 May 2026 — expect the next around August 2026.
Earlier values
| From | Value | Source |
|---|---|---|
| 2023-01-16 | 4.5 | Bank of Mauritius — Communiqué, 13 January 2023, 'A new Fram |
| 2024-09-20 | 4 | Bank of Mauritius — 'The Monetary Policy Committee of the Ba |
| 2025-02-04 | 4.5 | Bank of Mauritius — 'The Monetary Policy Committee of the Ba |
Get it programmatically
curl https://afriref.dev/v1/mu/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://afriref.dev/v1/mu/policy-rate/history?from=2020-01-01
# Provenance: curl https://afriref.dev/provenance/mu/policy-rateOther Mauritius series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates