Mozambique remained the only African central bank this year to reduce borrowing costs at each of its rate-setting meetings, as inflation eased to its lowest level since November 2020.

Mozambique remained the only African central bank this year to reduce borrowing costs at each of its rate-setting meetings and signalled more easing to come. Most Read from BloombergA 7,000-Year-Old C

Mozambique’s central bank cut its main interest rate for the fifth meeting in a row on Monday, saying the inflation outlook remained favourable. The central bank reduced its MIMO interest rate MZMIMO=ECI by 75 basis points to 13.

Poland’s inflation accelerated for a sixth month running in September, hitting a fresh 2024 high and cementing expectations for no interest rate cuts until next year.

President Christine Lagarde expressed confidence in Brussels on Monday that inflation could soon return to the bank's target level and did not rule out a further interest rate cut. "Looking ahead, inflation might temporarily increase in the fourth quarter of this year as previous sharp falls in energy prices drop out of the annual rates,