Whilst cuts were largely expected in the 2nd semester of 2024, BoM’s 50bps is in line with the major trends from Central Bankers around the world.

This follows the historic decision of the Federal Reserve (FED) to cut interest rates by a larger-than-usual half percentage point.

Federal Reserve Chair Jerome Powell describes the move as ‘recalibration’ exercise.

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Source

Bank of Mauritius: https://www.bom.mu/monetary-policy/interest-rate-decisions

World Economic Forum: https://www.weforum.org/agenda/2024/09/us-federal-reserve-interest-rates-cut-economy-news-20-september/