On 4th November 2022, the Monetary Policy Committee (MPC) of the Bank of Mauritius raised the Key Repo Rate by 100 basis points to reach 4%.
Since last year, the MPC has raised the Key repo rate by 215 basis points cumulatively. As per the BOM, this rise is principally in response to the persisting inflationary pressures and to contain the excess volatility in the FX market.
The Bank of Mauritius forecasts inflation in the range of 5-6 per cent for 2023. Growth rate is projected to remain strong at above 7 per cent for 2022 and 5 per cent for 2023.