This has been one of the most remarkable policy-driven economic transformations in modern history. The Bank of Mauritius has played a key role in this economic transformation. The modalities of conducting monetary policy in Mauritius have evolved from strong reliance on controls and directives to more market-based mechanisms.
However, given the range of uncertainties about the strength of the recovery and prospects for inflation over the medium term, the Federal Reserve remains prepared to respond should economic developments indicate that an adjustment in the stance of monetary policy would be appropriate.