The Monetary Policy Committee of the Bank of Mauritius kept the Key Rate at 4.50 % per annum at its 11 February 2026 meeting, judging that a steady stance best balances easing global and domestic inflation with still-uncertain growth and geopolitical risks. After a 50 bp hike in February 2025 the rate has been on hold through subsequent meetings. The central bank will continue to manage excess banking-system liquidity so that short-term market rates remain aligned with the policy rate. Domestically, real GDP is projected to expand by 3.3 % in 2026, supported by robust tourism and financial services and an expected recovery in construction, while headline inflation edged up to 3.8 % in January but is seen ending the year at 3.6 %, comfortably within the 2–5 % target band despite possible weather-related food price swings and geopolitical risks. The foreign-exchange market has stabilised, with rate movements driven by both local and external factors, and stress tests confirm banking-sector resilience. The IMF has lifted its global growth forecast for 2026 to 3.3 %, although risks from AI-related capital-flow volatility, trade fragmentation and geopolitical tensions persist. The committee signalled a “prudent wait-and-see” approach and reiterated its readiness to adjust policy if needed to safeguard price stability and balanced economic development.
Bank of Mauritius 2026-02-11
BoM holds Key Rate at 4.50% per annum (11 Feb 2026)
Bank of Mauritius’ Monetary Policy Committee on 11 February kept the Key Rate at 4.50 %, maintaining a “prudent wait-and-see” stance amid easing inflation and persistent growth and geopolitical uncertainties. It forecasts 3.3 % GDP growth and year-end inflation of 3.6 % (target 2–5 %) for 2026 and will continue liquidity operations to anchor short-term market rates to the policy rate.