Regulatory Alerts2025-08-18
Instruction No. 04/GR/2025 on the Modification of Rates Applicable to Monetary Policy Operations
The Central Bank of Mauritania issued Instruction No. 04/GR/2025 to revise the rates applicable to its monetary policy operations, effective immediately upon signature. The directive establishes the new Policy Rate at 6.00%, sets the Lending Facility rate at the Policy Rate plus 0.5%, and fixes the Deposit Facility rate at the Policy Rate minus 4%. Additionally, it defines the rate for fixed-rate liquidity absorption operations in main and fine-tuning operations at the Policy Rate minus 1.5%, while explicitly repealing all prior rate-setting instructions, including Instruction No. 20/GR/2024.
Islamic Republic of Mauritania Governor
Central Bank of Mauritania CENTRAL BANK OF MAURITANIA
Nouakchott, August 15, 2025
Instruction No. 04/GR/2025
On the Modification of Rates Applicable to Monetary Policy Operations
The Governor of the Central Bank of Mauritania
- Pursuant to Law No. 73 of May 30, 1973 establishing the Central Bank of Mauritania;
- Pursuant to Law No. 2018-034 of August 8, 2018 on the statutes of the Central Bank of Mauritania;
- Pursuant to Law No. 2018-036 bis of August 16, 2018 on the regulation of credit institutions;
- Pursuant to Decree No. 041/2022 of March 31, 2022 appointing the Governor of the Central Bank of Mauritania;
- Pursuant to Instruction No. 20/GR/2024 on the Modification of Rates Applicable to Monetary Policy Operations;
- Pursuant to the deliberations of the Monetary Policy Council dated August 15, 2025
Decides:
Article 1: This Instruction aims to set the Policy Rate and other rates applicable to Monetary Policy Operations as defined in Instruction No. 08/GR/2017 of December 27, 2017 on Monetary Policy Instruments.
Article 2: The Policy Rate is set at 6.00%.
Article 3: The Lending Facility rate is set at the Policy Rate plus 0.5%.
Article 4: The rate applied to fixed-rate liquidity absorption operations within the framework of main and fine-tuning operations is set at the Policy Rate minus 1.5%.
Article 5: The Deposit Facility rate is set at the Policy Rate minus 4%.
Article 6: This Instruction repeals and replaces all prior provisions, notably Instruction No. 20/GR/2024 setting the rates applicable to Monetary Policy Operations. It enters into force as of its date of signature.
Independence Street P.O. Box 614, Nouakchott, Mauritania Telephone: +222 45 25 22 06 +222 45 25 38 88 Fax: +222 45 25 27 59 info@bcm.mr www.bcm.mr
P.O. Box 623 Nouakchott, Mauritania Tel: +222 45 25 22 06 +222 45 25 28 88 Fax: +222 45 25 27 59 info@bcm.mr www.bcm.mr
(Signature) Mohamed-Lemine DHEHBY