Bank of Mauritius Reduces Key Rate by 50 Basis Points
Article Published on October 30, 2024
At its meeting on 20th September 2024, the Monetary Policy Committee (MPC) of the Bank of Mauritius unanimously decided to reduce the Key Rate (KR) by 50 basis points, lowering it from 4.50% to 4.00% per annum, to support ongoing economic growth.
Mauritius experienced a robust GDP growth of 6.4% in the first quarter, driven by strong consumption and investment. Key contributors, like tourism, construction and financial sectors, are expected to sustain growth and perform well throughout 2024. In this context, the Bank projects a real GDP growth of around 6.5% for the year. Meantime, the headline inflation forecast was set at 4% by the end of 2024.
For more information about the Key Repo Rate, please visit the BOM website.
