The Monetary Policy Committee (MPC) of the CBE decided to maintain the overnight deposit rate, lending rate, & the main operation rate at the levels of 8.25%, 9.25 % & 8.75%, respectively, in its meeting on Thursday. The MPC also maintained the discount rate at 8.75%.
Who is affected🤷 The MPC decided that the current interest rates are appropriate for the present time, & are in line with achieving the target inflation rate of 7% (± 2 percentage points).
Why is this important🤔 The MPC will closely follow all economic developments & risk balances, & will not hesitate to do everything in its power to support the recovery of economic activity, provided that inflation is within its desired target.
