Central Bank set to meet for rate decision this week
The Central Bank’s Monetary Policy Committee (MPC) is scheduled to meet on July 23 to decide on the key policy rate, with most analysts expecting the bank to leave the rate unchanged at 37 percent.
The bank kept its policy rate — the one-week repo auction rate — unchanged at 37 percent at its June meeting, marking the third consecutive MPC meeting with no change.
The most recent rate cut was delivered in January, when the policy rate was lowered from 38 percent to 37 percent. Some analysts expect the bank to reduce the rate to 36 percent at the MPC meeting scheduled for Sept. 10.
In June, the Central Bank also left the overnight lending rate and overnight borrowing rate unchanged at 40 percent and 35.5 percent, respectively.
