In Mozambique Central bank raises key lending rate to 12.75 pct

The bank said it was concerned about pronounced inflation risks caused by the sharp depreciation of the country's currency and a severe drought affecting southern and central areas.

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President Filipe Jacinto Nyusi of Mozambique addresses attendees during the 70th session of the United Nations General Assembly at the U.N. Headquarters in New York, September 28, 2015. REUTERS/Carlo Allegri play President Filipe Jacinto Nyusi of Mozambique addresses attendees during the 70th session of the United Nations General Assembly at the U.N. Headquarters in New York, September 28, 2015. REUTERS/Carlo Allegri
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Mozambique's central bank lifted its benchmark lending rate by 200 basis points to 12.75 percent on Thursday, its monetary policy committee said on the bank's website.

The bank said it was concerned about pronounced inflation risks caused by the sharp depreciation of the country's currency and a severe drought affecting southern and central areas.

Mozambique's consumer inflation accelerated to 13.61 percent year-on-year in March from 12.18 percent in February.

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