The Central Bank announced a reduction of the key rate from 18% to 17%. The decision was made at a board of directors meeting and will take effect on September 15.
«The economy continues to return to a trajectory of balanced growth. In recent months, credit growth has intensified. Inflation expectations remain high», — stated the Central Bank's announcement.
This is the third reduction of the key rate this year, at the beginning of 2025 the rate was 21%. The previous reduction occurred on July 25 — at that time the rate was reduced from 20% to 18%.
Before 2025, the last time the Central Bank reduced the rate was in September 2022 — from 8% to 7.5%.