CB KEEPS INTEREST RATE STEADY
The Central Bank has kept its policy rate steady at 19% in line with market expectations. The strong recovery in global demand, increasing commodity prices, supply constraints in some sectors and the rise in transportation costs have led to producer and consumer price increases internationally, according to the Central Bank. “Tight monetary policy in place has positively affected the current account balance, which is expected to go into surplus for the rest of the year,” said the Bank. Considering the high levels of inflation, the Central Bank will maintain the current tight monetary policy stance until a significant fall in inflation is achieved.