Mauritius Central Bank Survey: February 2011

The monetary base fell by Rs750 million or 1.7 per cent, from Rs44,342 million at end-January 2011 to Rs43,592 million at end-February 2011, compared to a drop of 1.3 per cent registered between end-December 2010 and end-January 2011.  The decrease in monetary base during the month reflected mainly a fall in both currency in circulation and liabilities to Other Depository Corporations (reserve deposits). 

The annual growth rate of monetary base stood at 27.2 per cent in February 2011,  down from 36.9 per cent in January 2011.  

On the sources side of the monetary base, net foreign assets of the Bank of Mauritius decreased by Rs41 million or 0.1 per cent, from Rs70,637 million at endJanuary 2011 to Rs70,596 million at end-February 2011. Net Claims on Budgetary Central Government increased by Rs719 million or 27.0 per cent, from negative Rs2,666 million at end-January 2011 to negative Rs1,947 million at end-February 2011, reflected mainly a decline in Liabilities to Central Government.    Claims on Other Depository Corporations fell by Rs215 million or 17.9 per cent, from Rs1,201 million at end-January 2011 to Rs986 million at end-February 2011, compared to an increase of 21.1 per cent in the previous month.