On October 22, the Central Bank decided to keep the interest rate at 14% per annum. “This decision is aimed at keeping positive real interest rates, ensuring a balance between creating favorable conditions for further recovery of economic activity and the formation of stable preconditions for a further slowdown in inflation rates in the medium term against the background of a temporary surge in short-term inflation risks,” the Central Bank said.
The CB keeps the inflation forecast for the year-end at 11-12.5%, and together with the government will take all necessary measures to achieve it.
Further decisions on the interest rate will be made based on the formation of the actual and forecast inflation dynamics, as well as the assessment of internal and external risks.
