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Tag "bank of mauritius"

Bheenick: Mauritius monetary policy committee needs to be more independent

Mauritius central bank governor Rundheersing Bheenick demanded a revision in the law governing the composition of the Monetary Policy Committee (MPC). Unlike the situation in most developing economies, the MPC in Mauritius comprises a majority of external members who outnumber bank members, the governor pointed out. Recently, the MPC voted to hold the key repo rate steady at 4.65%, even as its members were divided, triggering a public rift between

Inflation rises to 3.7% in January: Bank of Mauritius

The rate of inflation for the twelve-month period ended January 2014 rose to 3.7% from 3.5% for the twelve-month period ended December 2013 even as year-on-year inflation surged from 4.0 per cent in December 2013 to 5.1 per cent in January 2014. Bank of Mauritius has made public its monthly bulletin for end of January 2014, where it also indicated that Consumer Price Index (CPI) increased from 105.3 in December

Mauritius finance ministry says no “blank cheque” for Central Bank

In another twist to the excess liquidity tale, the finance ministry has openly differed with the central bank Governor’s stance on increasing the repo rate. While the Monetary Policy Committee held the repo rate steady at 4.65% on Monday, Governor Rundheersing Bheenick had advocated an interest rate rise in a statement on Tuesday. He noted that a higher repo rate would boost domestic savings and also stop investors pulling out

Bank of Mauritius holds repo rate steady; says economy strong

The central bank of Mauritius decided to hold its repo rate steady at 4.65 percent at a Monetary Policy Committee meeting yesterday. A Reuters poll had forecast it would leave rates unchanged. The Bank of Mauritius has maintained the repo rate since June 2013, when the rate was cut by 25 basis points to stimulate growth. However, the Bank of Mauritius noted that members of its monetary policy committee were

National debt rises Rs 20 billion even as economy slows

Even as the Mauritian economy posted a lower GDP growth of 3.2% in 2013 compared to 3.4% achieved in 2012, the level of national debt has shown a worrying trend, growing by Rs 20 billion in 2013. Poised on the eve of the next Monetary Policy Committee meeting of the Bank of Mauritius and following on the heels of the economic review by the International Monetary Fund (IMF), the latest

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