Mozambique central bank cuts main interest rate to 11.00%
The Bank of Mozambique has now lowered its main lending rate for nine policy meetings in a row.
The Southern African country's annual inflation rate slowed to 3.99% in April (MZCPIY=ECI), opens new tab from 4.77% in March, reversing a trend where inflation had been on the rise since October's disputed election.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
an hour ago
- The Independent
One in three businesses says they plan to raise prices as Trump's tariffs begin and inflation grows
Almost a third of U.S. businesses have said in a survey that they're likely to raise prices by the end of 2025 as they adjust to increasing costs and inflation, according to a new report. The online lending marketplace LendingTree issued a report stating that more than 30 percent of businesses included in the company's survey expect their prices to rise within the next six months. Roughly five percent said their prices would go down, and 65 percent estimated that they would remain the same. The report comes as uncertainty grows regarding President Donald Trump's tariff policy and continued tension stemming from inflation. LendingTree chief consumer finance analyst Matt Schulz stated in a press release that 'Tariffs are likely playing a significant role in these concerns, but so is the overall sense of uncertainty that remains in the American economy.' 'There are so many unknowns that it's nearly impossible to predict what the next few weeks will look like, much less six months from now,' he added. 'However, this report makes it clear many businesses see continued rising prices ahead.' On Tuesday, The Wall Street Journal reported that Home Depot will soon raise its prices even as the company has worked to reduce the impact of tariffs by using domestic products and broadening its supply chain. Both political strategists and economist have shared their alarm regarding rising costs during the year so far, even as Trump promised before the election that he would drive down prices. Rhode Island, New Hampshire, Montana, Washington, Oregon, and Vermont businesses were the most likely to say that they foresee price increases in the next few months, as more than 36 percent of surveyed companies in each of those states said that they're likely to change their prices, the polling shows. Companies in West Virginia, Mississippi, Arkansas, Alabama, New Mexico, Indiana, South Dakota, Louisiana, Nebraska, and Washington, D.C. were the least likely to say that they would raise prices, with more than 20 percent in each of those areas expecting price hikes. Among the businesses surveyed across the U.S., more than half said they expected their costs for goods and services to increase over the course of the next six months, meaning that their bottom lines will be negatively affected if they choose not to raise their prices. 'Pricing pressure may force other choices, such as staffing reductions, in the hopes of remaining competitive,' said Schulz. The LendingTree survey was conducted between June 2 and June 15, with analysts using data from the U.S. Census Bureau Business Trends and Outlook Survey.
Reuters
an hour ago
- Reuters
US hikes steel, aluminum tariffs on imported appliances, railcars, EV parts
WASHINGTON, Aug 19 (Reuters) - The U.S. Commerce Department said on Tuesday it is hiking steel and aluminum tariffs on more than 400 products including wind turbines, mobile cranes, appliances, bulldozers and other heavy equipment, along with railcars, motorcycles, marine engines, furniture and hundreds of other products. The department said 407 product categories are being added to the list of 'derivative' steel and aluminum products covered by sectoral tariffs, with a 50% tariff on any steel and aluminum content of these products plus the country rate on the non-steel and non-aluminum content. Evercore ISI said in a research note the move covers more than 400 product codes representing over $200 billion in imports last year and estimates it will raise the overall effective tariff rate by around 1 percentage point. The department is also adding imported parts for automotive exhaust systems and electrical steel needed for electric vehicles to the new tariffs as well as components for buses, air conditioners as well as appliances including refrigerators, freezers and dryers. A group of foreign automakers had urged the department not to add the parts, saying the U.S. does not have the domestic capacity to handle current demand. Tesla (TSLA.O), opens new tab unsuccessfully asked Commerce to reject a request to add steel products used in electric vehicle motors and wind turbines, saying there was no available U.S. capacity to produce steel for use in the drive unit of EVs. The new tariffs take effect immediately and also cover compressors and pumps and the metal in imported cosmetics and other personal care packaging like aerosol cans. "Today's action expands the reach of the steel and aluminum tariffs and shuts down avenues for circumvention – supporting the continued revitalization of the American steel and aluminum industries," said Under Secretary of Commerce for Industry and Security Jeffrey Kessler. Steelmakers including Cleveland Cliffs (CLF.N), opens new tab, Nucor (NUE.N), opens new tab and others had petitioned the administration to expand the tariffs to include additional steel and aluminum auto parts.
The Sun
2 hours ago
- The Sun
Lidl to set overtake Morrisons as Britain's fifth biggest supermarket as shoppers turn to cheaper food
LIDL is due to overtake Morrisons as Britain's fifth biggest supermarket — as shoppers turn to cheaper food to offset higher costs. The latest data shows that the discount option makes up 8.3 per cent of the grocery market against Morrisons' 8.4 per cent, analysts Worldpanel revealed yesterday. And Lidl increased its sales by 10.7 per cent in the three months to August — more than ten times that at Morrisons, whose sales rose by just 0.9 per cent in the same period. The German retailer is now the fastest-growing supermarket in the UK, alongside Ocado. Meanwhile, at Asda, sales were down 2.6 per cent on a year ago, and the Co-Op's fell by 3.2 per cent. Recent data also brought good news for shoppers as supermarket inflation fell slightly in August, down to five per cent. But Fraser McKevitt, Worldpanel's head of retail and consumer insight, warned: 'We're still well past the point at which price rises really start to bite and consumers are continuing to adapt their behaviour to make ends meet.' He said cost pressures were continuing to hit the High Street, noting a decline in eating out in casual restaurants lately. But shoppers still appear to want their treats, with branded groceries seeing more sales growth this month than cheaper own-label options. COVID BOOSTER THE economy recovered from the pandemic better than thought, the Office for National Statistics (ONS) has said. Revised data, based on how gross domestic product is calculated, showed the economy was 2.2 per cent larger at the end of 2023 than its peak shortly before Covid. It had been reported at 1.9 per cent. The ONS added: 'The long-term pattern of growth is broadly unchanged.' THE final coins featuring Queen Elizabeth II's portrait are to enter circulation from today, The Royal Mint has announced. More than 30million new £1 coins will be released this week, including more than 23million featuring the late Queen. The release also includes 170,000 £1 coins bearing the official portrait of King Charles III. Royal Mint director Rebecca Morgan said: 'This represents a pivotal moment.' THE HEAT'S TURNING UP MILLIONS will see their energy bills rise to £1,737 in October when the price cap rises by one per cent, industry analysts predict. An annual rise of £17 has been predicted by Cornwall Insight ahead of Ofgem's official confirmation next Wednesday. The latest forecast reverses the consultants' previous forecast in July that bills would instead drop by one per cent due to easing tensions in the Middle East. It said its forecast reflected changes to schemes like the expansion of the Warm Home Discount which gives struggling homes a £150 grant towards their bill.
