July 21, 2016 / 2:02 PM / 3 years ago

Mozambique hikes key lending rate to 17.25 percent

MAPUTO (Reuters) - Mozambique’s central bank lifted its benchmark lending rate by 300 basis points to 17.25 percent, its monetary policy committee said on Thursday.

Ernesto Gove, Bank of Mozambique Governor said the bank was concerned by the persistence of rising inflation standing at 19.7 percent.

Reporting by Manuel Mucari; Writing by Nqobile Dludla; Editing by Joe Brock

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