Monetary Policy Committee Keeps Key Rate at 4.5%

The Monetary Policy Committee (MPC) met on Wednesday, April 3, at the headquarters of the Bank of Mauritius (BoM) and decided to maintain the key rate at 4.5%.

According to the committee, the efforts made by the authorities in recent years to counter the crisis have paid off.

“Our economic agility and economic performance have been widely praised by international organizations,” said BoM governor and MPC president, Harvesh Seegolam.

Seegolam explained that Mauritius recorded a 7% growth in 2023, driven by strong performance, especially in the construction sector.

He also expects the tourism sector to continue performing well, and highlighted an increase in investments in the country and a decrease in the unemployment rate.

Inflation is expected to continue its downward trend this year and remain within the central bank’s target range of 2% to 5%.

Seegolam added that current economic indicators point towards a promising outlook for the coming year. As a result, the BoM anticipates a real GDP growth of 6.5% for 2024.

Source: L’Express