Bank of Mauritius Key Rate in Mauritius
The interest rate set by the Bank of Mauritius. It steers what banks charge on loans and pay on savings.
4.75%
Where it stands
4.75% since 20 May 2026, when the Bank raised the rate by 0.25 points as inflation picked up (from 2.7% in March to 3.6% in April) and energy prices rose with conflict in the Middle East. On 12 August 2026 the MPC held the rate, projecting inflation of about 5% for 2026 (down from 5.5% in May) and growth of 2.8%.
What it means
Higher rates make loans and mortgages more expensive but reward savers and help defend the rupee. With inflation at 4.9% in August 2026, rate cuts look unlikely in the near term.
Recent years
| Year | Bank of Mauritius Key Rate |
|---|---|
| 2021 | 1.85% |
| 2022 | 4.5% |
| 2023 | 4.5% |
| 2024 | 4% |
| 2025 | 4.5% |
Why it moved
2021: Kept at a very low 1.85% (cut in 2020) to support the economy through COVID.
2022: Raised in several steps to 4.50% to fight inflation heading into double digits.
2023: Held at 4.50% while inflation eased.
2024: Cut to 4.00% in September 2024 as inflation fell back to 3-4%.
2025: Raised back to 4.50% in February 2025 to anchor inflation expectations and support the rupee.