Bank of Mauritius Lifts Key Interest Rate to 4.75%

The Bank of Mauritius has raised its key interest rate by 25 basis points to 4.75%, up from 4.50%, following a meeting of its Monetary Policy Committee.

The decision, announced on Wednesday, 20 May, comes as the central bank moves to counter growing inflationary pressures and economic volatility.

Dr Priscilla Muthoora Thakoor, Governor of the Bank of Mauritius, explained that the Monetary Policy Committee deemed the 25-basis-point increase to 4.75% per annum necessary to stabilize future economic projections.

According to Dr Thakoor, the hike was deemed appropriate “given the current upside risks to the inflation outlook, the high level of uncertainty, and the need to anchor medium-term inflation expectations.”

Source: Defi Media