A high-ranking official from the presidential administration revealed at a closed briefing that they anticipate the National Bank to decrease the interest rate this April. The official criticized the bank's ultra-conservative policy of maintaining a high interest rate for the past two years.
The National Bank has kept the interest rate at a high level, starting at 14% from March 1, 2022, until December 2022, and then reducing it to 13%. The administration believes that lowering the interest rate is necessary to stimulate economic growth, reduce the cost of credit for businesses and households, and address inflation concerns.
The official concluded by stating that the overly cautious approach of the National Bank regarding the interest rate is no longer justified, as they believe the economy has overcome the inflationary challenges. The potential decrease in the interest rate is seen as a positive step towards supporting economic development and reducing borrowing costs for the country's businesses and citizens.
