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Central bank raises key lending rate to 12.75 pct
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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
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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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.
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Mozambique's consumer inflation accelerated to 13.61 percent year-on-year in March from 12.18 percent in February.
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