Mozambican Bank Leaves Interest Rate Unchanged at 15.5% for the Third Month

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The reference interest rate for the credit in Mozambique will remain unchanged in July at 15.5%, for the third consecutive month, after three previous cuts this year, announced today the Mozambican Association of Banks (AMB). Since January 2024, the rate, known as the ‘first rate', had gradually come down after six consecutive months to a maximum of 24.1%. This year, in January, the AMB decided to cut 10 basis points at the rate, which fell to 1…