On 9 august 2019, the Monetary Policy Committee (MPC) of the Bank of Mauritius (BOM) agreed to cut the Key Repo Rate (KRR) by 15 basis points to 3.35% p.a. amidst difficult global economic conditions.

The MPC highlighted that the Mauritian economy has demonstrated resilience despite the fact that the flame of global economic growth has been dimming and it remains confident that Mauritius will achieve current growth forecast of 3.9% for 2019 and 4% for 2020. In view of the local declining inflation rate trend (headline inflation rate of 0.5% is forecasted for 2019), the MPC is of the opinion that a reduction in the policy rate will help in the mitigation of the risks associated with the weakening global growth.

The last revision made to the KRR dates back to September 2017, when the rate was decreased by 50 basis points to 3.5%.

For more information about the KRR, please visit the BOM website:

https://www.bom.mu/repo-rate