Tuesday, 14, July, 2020

On June 11, the Board of the Central Bank decided to keep the interest rate at 15% per annum, the regulator said in a statement.

“This decision is due to the expectation of a more stable downward inflation trend and maintaining a balance between the goals of ensuring macroeconomic stability and maintaining business activity in the context of economic recovery,” the statement said.

The Central Bank is considering the possibility of further lowering the level of the rate based on the reduction of the forecast inflation rate and will continue to take all necessary measures together with the government to achieve a constant inflation target of 5% by 2023, the statement noted.

Earlier in April the Central Bank cut the interest rate from 16% to 15% per annum, explaining that such a decision was made taking into account the forecast for lower inflation.

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