Wednesday, 17, July, 2024

On October 19, the Board of the Central Bank decided to keep the interest rate unchanged at 16% per annum, the bank said. This decision was reportedly prompted by the current inflation trend and expectations, the occurrence of one-time inflationary shocks.

In addition, the Central Bank proceeded from the need to use a prudent approach s and ensure the financial stability of banks, due to some concerns about the increase of foreign currency loans and increased segmentation of the credit market.

While keeping the interest rate at the current level, the Central Bank will simultaneously take macroprudential supervision measures, a more restrained approach to lending in order to eliminate imbalances in the financial market and ensure financial stability of the entire economy, the regulator added.

The Central Bank also noted that at present the rate is at an acceptable level for the economy, while the real interest rates on deposits and loans in national currency are positive.

Earlier, on July 20, the Central Bank also decided to keep the interest rate unchanged at 16% per annum.

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