Mauritius Central Bank Overhauls MPC, Delays Rate Decision

(Bloomberg) -- Mauritius’s central bank announced the appointment of three new members to its Monetary Policy Committee and postponed an interest-rate decision due on Friday for two weeks.

Prime Minister Pravind Jugnauth appointed Sanjeev K. Sobhee and Lim Chan Kwong Lam Thuon Mine to the committee and, in his capacity as finance minister, named Priscilla Pattoo to the group, the Bank of Mauritius said in a statement on Wednesday. The number of committee members rises to eight from seven, with Guy Wong So and Pierre Dinan no longer part of the body.

The next MPC meeting, which had been scheduled for May 18, was postponed until May 30 “due to administrative matters,” the central bank said.

The Bank of Mauritius last met in February, when newly appointed Governor Yandraduth Googoolye left the benchmark rate unchanged at 3.5 percent. Jugnauth said on Tuesday that the central bank saw no need to change the current monetary policy framework.

©2018 Bloomberg L.P.