Reduction of Interest Rate Applicable on the Special Relief Amount of Rs 5 Billion under the COVID-19 Support Programme

Friday 17^th of April 2020

Further to the decision taken on Thursday 16^th of April 2020 by the Monetary Policy Committee to reduce the Key Repo Rate by 100 basis points to 1.85 per cent per annum, the Bank of Mauritius has reduced the interest rate applicable on its Special Relief Amount under its COVID-19 Support Programme equally by 100 basis points.

Accordingly, the interest rate on advances to impacted economic operators under the Special Relief Amount, initially capped by the Bank of Mauritius at the fixed rate of 2.50 per cent per annum, now stands at 1.50 per cent per annum.