Regulatory Alerts2025-05-08
Instruction No. 005-DOM/25 of May 6, 2025 Amending Certain Provisions of Instruction No. 003-DOM/25 on the BFM Policy Rate and Interest Rate Corridor System
The Governor of Banky Foiben'i Madagasikara issued Instruction No. 005-DOM/25 on May 6, 2025, amending Article 6 of the April 28, 2025 directive to fix the policy rate at 12.00%, the deposit facility rate at 11.00%, and the marginal lending facility rate at 13.00%. This adjustment establishes a precise interest rate corridor that tightens the spread between borrowing and deposit costs, directly guiding short-term money market operations. The amended provisions supersede all contrary rules and take effect on May 7, 2025.
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