Mozambique policy interest rate
Banco de Moçambique's policy interest rate — the taxa MIMO (taxa de Mercado Monetário Interbancário de Moçambique), set by the Comité de Política Monetária (CPMO), composed of the Governor, Vice-Governor and Administrators, which meets once every two months and decides the level of the MIMO rate.
| Current value | 9.25 percent |
|---|---|
| In force from | 2026-01-28 |
| Official source | Banco de Moçambique — Comité de Política Monetária, Comunicado n.º 1/2026, Maputo, 28 de Janeiro de 2026: 'Taxa de Juro de Política Monetária reduzida para 9,25 %' — o CPMO decidiu reduzir a taxa MIMO de 9,50 % para 9,25 %. Held unchanged since: Comunicado n.º 2/2026 (23 de Março de 2026) and Comunicado n.º 3/2026 (25 de Maio de 2026), both 'Taxa de Juro de Política Monetária mantida em 9,25 %' |
| Last verified | 2026-07-24 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
DIRECTION CONFIRMED — Mozambique was easing, and has now STOPPED. The 28 Jan 2026 cut to 9.25% was the last step of the easing cycle the CPMO says began in January 2024; that communiqué already warned 'aproxima-se o fim do ciclo de redução da taxa MIMO'. On 23 Mar 2026 the CPMO explicitly stated it 'interrompeu o ciclo de redução iniciado em Janeiro de 2024', citing the outbreak of Middle East conflict and its effect on logistics chains and energy/food prices. The latest decision, Comunicado n.º 3/2026 of 25 May 2026, held MIMO at 9.25% AND tightened by another instrument: the reserve requirement (Reservas Obrigatórias) on domestic-currency liabilities was raised from 29.0% to 39.0% to absorb excess bank liquidity, while the foreign-currency coefficient was kept at 29.5%. The same communiqué revised the inflation forecast UP and said inflation could reach double digits depending on the duration of the conflict. So a consumer reading 'still 9.25%' should not read the stance as unchanged — the tightening moved to reserve requirements. Recent path (all cuts): 11.75% -> 11.00% (30 May 2025), -> 10.25% (31 Jul 2025), -> 9.75% (29 Sep 2025), -> 9.50% (14 Nov 2025), -> 9.25% (28 Jan 2026). NEXT ORDINARY CPMO MEETING: 29 July 2026 (announced at the end of Comunicado 3/2026) — this series should be re-checked immediately after that date. Effective dates: BdM communiqués do not state a separate entry-into-force date; the decision date is used as effective_from, which is the market convention for the MIMO rate. ACCESS NOTE: bancomoc.mz serves an incomplete TLS chain (intermediate certificate missing), so standard fetchers fail with 'unable to verify the first certificate'; and every CPMO communiqué PDF is a SCANNED IMAGE with no text layer — a source-watcher must OCR them, not grep them. Communiqué index: https://www.bancomoc.mz/pt/areas-de-actuacao/politica-monetaria/comite-de-politica-monetaria/
Earlier values
| From | Value | Source |
|---|---|---|
| 2025-05-30 | 11 | Banco de Moçambique — CPMO, Comunicado n.º 3/2025, Maputo, 3 |
| 2025-07-31 | 10.25 | Banco de Moçambique — CPMO, Comunicado n.º 4/2025, Maputo, 3 |
| 2025-09-29 | 9.75 | Banco de Moçambique — CPMO, Comunicado n.º 5/2025, Maputo, 2 |
| 2025-11-14 | 9.5 | Banco de Moçambique — CPMO, Comunicado n.º 6/2025, Maputo, 1 |
Get it programmatically
curl https://afriref.dev/v1/mz/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://afriref.dev/v1/mz/policy-rate/history?from=2020-01-01
# Provenance: curl https://afriref.dev/provenance/mz/policy-rateOther Mozambique series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates