Feb 17 Mauritius’s central bank held its repo rate at 4.40 percent on Wednesday, citing a worsening outlook for global growth.
A majority of the bank’s Monetary Policy Committee voted to leave the rate unchanged because « risks to the global growth outlook remain tilted on the downside » in 2016, the bank said.
Headline inflation was likely to be stable in 2016, at around 2.3 percent.
« The MPC views that domestic inflation would remain quite low in the context of subdued global commodity prices and restrained inflation in major trading partner countries, » the bank said in a statement.
The bank projected the economy would grow 3.8 percent in 2016, a touch lower than the 3.9 percent forecast earlier by the country’s statistics office.
(Reporting by Jean Paul Arouff; Writing by Drazen Jorgic; Editing by Larry King)