Central Bank Maintains Benchmark Standing Facility Rate
News: The Banco de Moçambique has maintained its benchmark standing facility rate at 8.25%. The move is aimed at easing some of the effects of floods that destroyed infrastructure and farmland in the country. The central bank also stated that it would intervene in interbank markets to keep the monetary base below MZN44.66bn (US$1.4bn) in March 2014. The country's inflation eased to 2.38% in February 2014, compared with 3.16% in January 2014. International reserves in Mozambique decreased by US$113mn to US$2.79bn at end February 2014.