Bank of Mauritius bites the “COVID-19 bullet”: Key Repo Rate cut by 100bps
Article Published on April 20, 2020
The Monetary Policy Committee (MPC) of the Bank of Mauritius unanimously decided at its meeting held on 16 April 2020 to further adjust down the Key Repo Rate (KRR) by 100 basis points, bringing it to 1.85% per annum.
The decision was taken to factor in the disruptive effects of COVID-19 on the Mauritian economy and the latest economic growth forecast for Mauritius by the International Monetary Fund (IMF). According the IMF, global economy is projected to contract sharply by –3% in 2020 and the projected Real GDP rate for Mauritius now stands at -6.8% for 2020.
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