The Central Bank’s (CBK’s) Monetary Policy Committee will hold its next rate-setting meeting on May 28.
At its last meeting on March 19th, the bank cut its benchmark interest rate by 50 bps (0.5%) to 9.5 percent. This was the first cut since September 2016 and the committee said it would closely monitor the impact of this cut along with changes to the global and domestic economy.
In a statement, the bank said the decision was driven by need to ease its monetary policy stance in order to support economic activity.
