The Central Bank leaves the key rate unchanged

At the meeting on July 27, 2023, the board of the Central Bank decided to leave the key rate unchanged at 14 percent per annum. This was reported by the bank's press service.

According to the regulator, despite the decrease in inflation and inflationary expectations, pressures related to demand factors remain on prices. In order to ensure that inflation will be within the forecast by the end of the year, the main rate has not been changed.

General inflation showed a downward trend since the beginning of the year and reached 9 percent annually in June. In this case, the effects of last year's high base effect ended, import goods, and regulated prices were relatively stable, among the main reducing factors.

For your information, the regulator last changed the rate on March 16 and decided to reduce it by 1 percent to 14 percent per annum. The next meeting of the Central Bank Board to review the key rate is scheduled for September 14, 2023.