MPC raises interest rates by 50 bp
19:58
The Monetary Policy Council (MPC) raised the reference rate to 2.75% from 2.25%, the central bank reported. This change is in line with market expectations.
The lombard rate will amount to 3.25% on an annual basis, the deposit rate – 2.25% on an annual basis, the rediscount rate to 2.80%, and the discount rate to 2.85%.
The MPC raised interest rates for the first time in October, including the reference rate to 0.5% from 0.1%. In November, it raised the reference rate to 1.25%, in December – to 1.75%, and in January 2022 – to 2.25%.
