Mozambique's central bank lowered its monetary policy rate for the ninth time as inflation continues to decelerate, the economy slowly recovers and the exchange rate slowly depreciates.

Fitch Ratings has affirmed Mozambique's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'RD' (Restricted Default). There is no Outlook on the IDR.

Mozambique's central bank lowered its monetary policy rate for the eight consecutive time as its outlook for inflation points to single digits with no signs that aggregate demand will create significant price pressures.

Mozambique's central bank cut its monetary policy rate for the seventh time in a row as forecast that show inflation will remain in single digits justify continuing the easing that began in April 2017.