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# Bank of Mauritius cuts Key Rate by 50 basis points to 4.00%
- URL: https://www.theglobalbanker.com/bank-of-mauritius-cuts-key-rate-by-50-basis-points-to-4-00/
- Published: 2024-09-20T14:41:00.000Z
- Updated: 2026-11-02T02:52:06.000Z
- Description: The Bank of Mauritius MPC unanimously lowered its policy rate from 4.50% on 20 September 2024, saying well-entrenched disinflation created space for a lower rate as inflation fell to 4.0%.
- Author: TGB Editorial Team
- Tags: Central Banks, Africa, #archive

The Monetary Policy Committee (MPC) of the Bank of Mauritius decided unanimously on 20 September 2024 to cut the Key Rate by 50 basis points, from 4.50% to 4.00% per annum.

The committee said that, while growth remained consistent, “the ongoing disinflationary process is well entrenched in 2024” and looked set to achieve the medium-term target of 3.5%, with upside risks to the inflation outlook subsiding. It judged that this environment “creates space for a lower policy rate, without compromising on other macroeconomic objectives”.

#### INFLATION WITHIN TARGET RANGE

Headline inflation fell from 11.3% in February 2023 to 4.0% in August 2024, marking 18 months of successive decline and remaining within the 2–5% target range. The Bank attributed the decline mainly to benign global food and energy prices, lower shipping costs and the fading of domestic shocks, and said core measures of inflation remained on a firm downward trend. In the absence of further shocks, it projected headline inflation of around 4.0% by the end of 2024.

On growth, the Bank said first-quarter GDP expanded by 6.4%, driven by buoyant consumption and investment, and maintained its projection of real GDP growth of around 6.5% for 2024\. It described tourism as a key engine of growth and said construction activity continued to be underpinned by major public infrastructure projects, including social housing and road improvements, while the financial sector would remain supportive of growth.

The MPC also noted that global inflation remained on a downward trend and that interest rate cuts by major central banks were well under way. The US Federal Reserve and the European Central Bank had lowered their policy rates by 50 basis points and 25 basis points respectively at their September 2024 meetings, it said.