The Monetary Policy Committee (MPC) met on September 20, 2016 to review recent economic developments, the outcome of its previous policy decisions, and the economic outlook. The Committee observed that demand pressures on inflation are moderate and inflation is expected to decline in the short term, but the Committee remains concerned about the persistent slowdown in private sector credit growth. The MPC therefore decided to lower the CBR by 50 basis points to 10.0 percent from 10.5 percent. The CBK will continue to monitor developments in the domestic and international economies, and will use the instruments at its disposal to maintain overall price and financial sector stability. For more, click HERE.
