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Mozambican “prime rate” for June remains at a five-year high

The prime rate for credit operations in Mozambique in June will be 23.5%, the Mozambican Association of Banks (AMB) announced, the highest rate in the last five years.

According to the data collected by Lusa, one has to go back to May 2018 to find the same value.

Since then, the prime rate dropped to a minimum of 15.5% in February 2021, when the trend reversed, and the rate rose to 23.5% in April.

The increases in the prime rate have been associated with the Central Bank raising the monetary policy interest rate (MIMO rate, which influences . . .

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