Gayton McKenzie accused of not understanding fashion industry after his meeting with Shein
Fashion designer David Tlale said he doesn’t think Gayton McKenzie understands the complexities of the clothing and textile industry.
The Bank of Mozambique has now lowered the MIMO rate for 11 policy meetings in a row in an easing cycle that began in January 2024.
Annual inflation in the resource-rich Southern African country edged up to 4.79% in August from 3.96% in July.
Central bank governor Rogerio Zandamela told a press conference the latest policy decision also reflected a stable local currency and favorable international commodity prices.
He said the Monetary Policy Committee would continue to “normalize” the level of its MIMO rate, but at a moderate pace.
Previous rate cuts earlier in its easing cycle came in larger 75-basis-point increments.
