The new framework has been designed to replace the present key interest rate – namely the Lombard Rate, which the Bank of Mauritius has been using to signal its monetary policy stance so far – with a key Repo Rate that will be in line with interest rates on the short-term money market.
Indeed, we continue to reap benefits from years of collaboration between the Bangko Sentral and the banking community in pursuing reforms to strengthen our banks and make the system more responsive to the demands of a constantly changing environment.