{"id":25978,"date":"2011-12-13T12:00:00","date_gmt":"2011-12-13T17:00:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/12\/13\/bank-of-mauritius-cuts-rate-10bps-to-5-40\/"},"modified":"2011-12-13T12:00:00","modified_gmt":"2011-12-13T17:00:00","slug":"bank-of-mauritius-cuts-rate-10bps-to-5-40","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/12\/13\/bank-of-mauritius-cuts-rate-10bps-to-5-40\/","title":{"rendered":"Bank of Mauritius Cuts Rate 10bps to 5.40%"},"content":{"rendered":"<p><span>The\u00a0<a href=\"http:\/\/bom.intnet.mu\/\">Bank of Mauritius<\/a>\u00a0trimmed its benchmark interest rate by 10 basis points to 5.40% from 5.50%. \u00a0The bank said: &quot;The MPC observed a decline in externally-generated inflationary pressures&#8230;. The MPC is of the view that the Key Repo Rate is \u00a0broadly appropriate in view of the expected impact of the 2012 budget measures. However, to signal its concern about the low level of business and consumer confidence, it has decided to cut the Key Repo Rate by 10 basis points.&quot;<\/span> <\/p>\n<div><span><\/span><br \/><a name=\"more\"><\/a><\/div>\n<div> <span>Previously the Bank of Mauritius raised its\u00a0<a href=\"http:\/\/www.centralbanknews.info\/2011\/06\/mauritius-central-bank-raises-interest.html\">repo rate<\/a>\u00a0by 25 basis points to 5.50% at its June meeting, after raising\u00a0<a href=\"http:\/\/www.centralbanknews.info\/2011\/03\/mauritius-central-bank-hikes-rate-50bps.html\">50 basis points<\/a>\u00a0in March this year to 5.25%. \u00a0Mauritius reported inflation of 6.5% in August, down slightly from levels seen earlier in the year e.g. 7.2% in March, and 6.8% in February, meanwhile the bank expects inflation to decline to around 5.5% by June 2012. \u00a0<\/span><\/div>\n<div><span><br \/>The Bank revised its forecasts downward\u00a0slightly\u00a0and now expects the economy to grow about 4.1% this year (4.6% previous forecast), having recorded annual GDP growth of 4.4% in 2010. \u00a0The Mauritian Rupee (MUR) has gained about 5% against the US dollar so far this year, with the USDMUR exchange rate trading around 29.35<\/span><\/div>\n<p> <span><\/p>\n<div><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/div>\n<p> <\/span> <\/p>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-5302192618691347317?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Bank of Mauritius\u00a0trimmed its benchmark interest rate by 10 basis points to 5.40% from 5.50%. \u00a0The bank said: &quot;The MPC observed a decline in externally-generated inflationary pressures&#8230;. The MPC is of the view that the Key Repo Rate is \u00a0broadly appropriate in view of the expected impact of the 2012 budget measures. However, to signal &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/12\/13\/bank-of-mauritius-cuts-rate-10bps-to-5-40\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bank of Mauritius Cuts Rate 10bps to 5.40%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-25978","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/25978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=25978"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/25978\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=25978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=25978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=25978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}