The Board of the Central Bank decided to cut the interest rate from 15% to 14% per annum, the press service of the CB said today.
According to the CB, a downward inflationary trend began in the economy after its peak values. Meanwhile, signs of a negative impact of tight external financial conditions on domestic economic activity are beginning to emerge.
The regulator underscored that the reduction of the rate by 1 percentage point would completely remove the additional burden imposed by the increase in interest rates in response to the risks in March last year.
Setting the rate at 14% per annum with a downward inflation forecast (8.5-9.5%) will also ensure the moderately tight monetary conditions.