Bank of Mauritius Hikes Reserve Ratio 100bps to 7%

The Central Bank of Mauritius lifted the minimum cash reserve ratio on banks' deposits by 100 basis points to 7% from 6% previously in order to mop-up excess liquidity. The Bank also increased the minimum cash reserve ratio on any day during the "maintenance period" 50 basis points to 5% from 4.5%. Mauritius recorded inflation of 6.4% year-on-year in January, up from 6.1% in December according to the the Central Statistics Office. The Bank of Mauritius last left its repo rate on hold at 4.75%.

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