{"id":28373,"date":"2012-03-19T14:32:00","date_gmt":"2012-03-19T18:32:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/03\/19\/bank-of-mauritius-cuts-benchmark-rate-50bps-to-4-90\/"},"modified":"2012-03-19T14:32:00","modified_gmt":"2012-03-19T18:32:00","slug":"bank-of-mauritius-cuts-benchmark-rate-50bps-to-4-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/03\/19\/bank-of-mauritius-cuts-benchmark-rate-50bps-to-4-90\/","title":{"rendered":"Bank of Mauritius Cuts Benchmark Rate 50bps to 4.90%"},"content":{"rendered":"<div align=\"right\"><script type=\"text\/javascript\">\ntweetmeme_style = 'compact';\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\"><\/script><\/div>\n<p><span><span><span>The&nbsp;<\/span><\/span><a href=\"http:\/\/bom.intnet.mu\/\">Bank of Mauritius<\/a><span><span>&nbsp;cut its benchmark interest rate by 50 basis points to 4.90% from 5.40%. &nbsp;The bank said: &#8220;The MPC weighed the risks to the growth and inflation outlook over the policy-relevant horizon and concurred that a cut in the Key Repo Rate was warranted in view of &nbsp;the &nbsp;higher &nbsp;downside risks to the domestic growth outlook compared with the upside risks to the inflation outlook. &nbsp;The voting pattern was, however, split with regard to the magnitude of the decrease.&#8221;<\/span><\/span><\/span><br \/><a name='more'><\/a><br \/><span>Previously the Bank of Mauritius <\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/12\/bank-of-mauritius-cuts-rate-10bps-to.html\">cut the rate<\/a><span> by 10 basis points at its December meeting, and last raised its&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/06\/mauritius-central-bank-raises-interest.html\">repo rate<\/a><span>&nbsp;by 25 basis points to 5.50% at its June meeting, after raising&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/03\/mauritius-central-bank-hikes-rate-50bps.html\">50 basis points<\/a><span>&nbsp;in March this year to 5.25%. &nbsp;Mauritius reported inflation of 6.2% in February this year, 6.5% in August, 7.2% in March, and 6.8% in February last year, meanwhile the bank expects inflation to decline to around 5.3% by June 2012 and 4.7% by December 2012.<br \/><\/span><\/p>\n<div><span>The Bank revised its forecasts downward&nbsp;slightly&nbsp;and now expects the economy to grow about 3.8% this year (down from 4.1% and 4.6% previous forecasts), having recorded annual GDP growth of 4.4% in 2010. &nbsp;The Mauritian Rupee (MUR) has weakened about 2% against the US dollar over the past year, with the USDMUR exchange rate trading around 29.1<\/span><\/div>\n<p><\/p>\n<div><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-1111081628988950364?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Bank of Mauritius&nbsp;cut its benchmark interest rate by 50 basis points to 4.90% from 5.40%. &nbsp;The bank said: &#8220;The MPC weighed the risks to the growth and inflation outlook over the policy-relevant horizon and concurred that a cut in the Key Repo Rate was warranted in view of &nbsp;the &nbsp;higher &nbsp;downside risks to the domestic &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/03\/19\/bank-of-mauritius-cuts-benchmark-rate-50bps-to-4-90\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bank of Mauritius Cuts Benchmark Rate 50bps to 4.90%&#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-28373","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28373","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=28373"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28373\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=28373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=28373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=28373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}