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Press Release on Interest Rates
The Monetary Policy Committee (MPC) has decided to: - increase the policy rate (one-week repo auction rate) from 10.25 percent to 15 percent, and - provide all funding through the main policy rate, which is the one-week repo auction rate. Global economic activity has recovered partially in the third quarter. However, uncertainties regarding global economic activity heightened due to the recent increase in Covid-19 cases. The recovery in economic activity continues. Partial restrictions introduced due to the increasing number of cases heighten uncertainties on the short-run outlook of economic activity, particularly ... (full story)
Added at 6:07am