The Bank of Mozambique on Friday hiked its lending and deposit rates by a startling 600 basis points, pushing the lending rate to a new record high of 23.25% in an attempt to keep pace with inflation. In a press conference following the Bank’s first monetary policy decision since the appointment of governor Rogério Zandamela…...

Bank of Mozambique governor Rogério Zandamela addressing journalists on 21 October 2016. Photo © Tom Bowker / Zitamar News