The Monetary Policy Committee (MPC) decided to hold the policy rate steady at 22 percent in its meeting held today.
The MPC noted that despite the sharp decline in February, inflation remains at elevated level. The inflation outlook is also susceptible to risks amidst elevated inflation expectations.
The MPC assessed that these circumstances warrant a cautious approach and continuity of the current monetary stance to bring inflation down to the target range of 5 – 7 percent by September 2025.
