At its today's meeting, the BOD of the Central Bank decided to keep the interest rate at 14% per annum, the Bank’s press service said.

The Central Bank noted that the decline in overall inflation had slowed in recent months amid rising prices for certain food items.

Year-to-date, the inflation has accelerated, with core inflation commencing to rise, reaching 6.3% year-on-year in February. Overall inflation stood at 7.3%, remaining unchanged due to weakening seasonal factors.

Rising food prices continue to support high inflation expectations among the public.

According to the Central Bank, economic activity remains strong due to aggregate demand. This is reflected in the growth of retail and wholesale trade, an increase in real estate deals, and active budget expenditure execution. These factors are supporting growth in industry, construction, and the service sector.

External factors are escalating geopolitical tensions, which could lead to disruptions in global supply chains, rising energy and food prices, and increased transportation costs. This creates additional pressure on inflation through import prices.

The Bank believes it is necessary to maintain a tight monetary policy course to ensure price stability and reduce inflation expectations.

If risks of deviation from the inflation target arise, monetary conditions may be further tightened, meaning the interest rate could be raised.

The policies’ goal are to reduce inflation to 5% in the medium term, ensure macroeconomic stability, and keep household purchasing power.

The next meeting of the Central Bank Board to consider the interest rate is scheduled for April 29, 2026.