Monetary Policy Committee: the Repo Rate kept at 4.9%

This is after three rounds of voting at the MPC meeting in the afternoon of Monday, November 26 a majority of the board members chose to keep the Repo Rate at 4.9% per year. This is due to continuing uncertainty about the global economy.

The committee also discussed other options for interest rates. Some members have expressed concern about inflation. For MPC, the risk of rising inflation have increased. Because of rising food prices on the world market, the recent depreciation of the rupee, the impact of the implementation of the report of the PRB or the recent budgetary measures, the MPC believes that the Mauritian economy has structural weaknesses that can not be solved by monetary policy.