The central bank of Mauritius cut its benchmark repo rate by 40 basis points to 4.00 percent to support the economy, saying "the downside risks to the domestic growth outlook outweighed the risks to the inflation outlook."

It is the first cut in rates by the Bank of Mauritius since a 25 point cut in November last year.

"Taking into account the uncertainty created by Brexit and potential for the US November elections to increase market volatility, the MPC deemed it important to support investment activity in the country and raise the growth potential of the economy," the central bank said.