Also, the average outstanding rate for variable-rate mortgages has risen by around 40 basis points less than the cash rate as a result of competition among lenders for good-quality borrowers.
Government had given its unwavering political commitment to pursue the measures to the finish. Never in the history of Mauritius were monetary and exchange rate policies so harmoniously orchestrated and finely tuned with a host of fiscal and trade liberalization policies for the achievement of a common economic goal.