Mozambique’s central bank kept its Mimo benchmark interest rate at 9.25% for a fourth consecutive meeting, balancing persistent inflation risks against a sluggish domestic recovery. Governor Felisberto Navalha announced the decision in his inaugural monetary policy statement, highlighting prolonged conflicts in Europe and the Middle East, recurring climate shocks and a foreign-exchange shortage that is hampering import financing. Diesel prices have risen by more than 40% in recent months, adding to pressure from potential international fuel and food-price shocks. Rather than raise borrowing costs again, the bank will adjust its reserve-requirement regime from the next maintenance period as it seeks to support liquidity management, stabilize the Metical and avoid weakening the recovery.