At its Dec. 14 meeting 14, the BOD of the Central Bank decided to keep the interest rate at 14%, the regulator’s press service said.
The inflation rate in October-November dropped to 8.8%, the lowest since August 2016. The Central Bank explains this decrease by the “effect of last year’s high base”, the reduced contribution of rising import prices, the incompletely manifested impact of increasing energy tariffs for legal entities, as well as the impact of relatively tight monetary conditions.
According to the base forecast scenario, in 2024 the inflation rate is expected to be between 8-9%. However in the next quarters, there remains the possibility of external pro-inflationary risks manifesting against the backdrop of non-market restrictions and fragmentation of international trade, as well as the consequences of the expected next adjustment of regulated prices (increasing prices), the regulator said.
