Banco de Moçambique kept its key interest rate unchanged at 12.75% but said it would not "hesitate to take the necessary corrective measures" before its next policy meeting in February 2020 due to its persisting concerns about the risks to inflation projections.

The central bank also maintained its standing deposit facility and standing lending facility rates at 9.75% and 15.75%, respectively. It kept its reserve requirement ratio for liabilities in local and foreign currencies at 13.0% and 36.0%, respectively.