North Macedonia’s c-bank maintains key interest rate at 1.25%

0

SKOPJE (North Macedonia), March 16 (SeeNews) – The central bank of North Macedonia said on Wednesday that it had decided to leave its key rate unchanged at the historically low level of 1.25%, because the monetary policy current supports lending to businesses and citizens, supporting the continued recovery of the economy.

The Central Bank’s Operational Monetary Policy Committee also concluded that the latest events in Ukraine are changing the global economic backdrop and affecting the domestic economy by increasing inflation risks and slowing domestic demand due to heightened uncertainty. , the central bank said in a statement. .

North Macedonia’s gross domestic product (GDP) grew 4% annually in 2021 and 2.3% year-on-year in the fourth quarter alone. Current data points to continued growth in early 2022, but risks to growth projections and the economic outlook for this year face the downside due to the situation in Ukraine, the central bank said.

The acceleration of average annual inflation to 7.1% during the first two months of the year is the result of the increase in the prices of imports, in particular those of energy and food, indicates the communicated.

The central bank also decided to offer 10 billion denars ($178.4 million/€162.3 million) of central bank bills at an auction on Wednesday, unchanged from the amount offered at the last auction held on February 16. is the interest rate on central bank bills.

The central bank last changed its policy rate in March 2021, cutting it by 0.25 percentage points.

(1 euro = 61.62 denar)

YOU CAN SUBSCRIBE TO OUR WAR IN UKRAINE IMPACT ON SEE THE NEWSLETTER HERE

Share.

Comments are closed.