At today’s BOD meeting, the Central Bank decided to keep the interest rate at 15% per annum, the press service of the Bank said.
According to the Central Bank, the economy retains the stimulating effect of internal and external factors on the demand side. Higher external inflationary background, together with the growth of household incomes, was reflected in the relatively stronger dynamics of core inflation in recent months, analysts of the Central Bank added.
The current level of the interest rate is said to be sufficient to maintain moderately tight monetary conditions in the economy. Based on the prevailing conditions and the nature of fiscal policy, in the coming quarters it is possible to take additional measures to balance aggregate demand and supply, the regulator said.
The 15% rate was set in July 2022, lowered from 16% in June. In mid-March 2022, it was increased for the first time since 2018, and immediately by 3% - from 14 to 17%.
The next meeting of the Board of the Central Bank to review the rate is scheduled for March 16.