Central Bank Keeps the Policy Rate at 14% in March

The policy rate was kept unchanged at 14% per annum. Annual headline inflation in February was 8.3%.

At the 14 March meeting, the policy rate was kept unchanged at 14% per annum. Annual headline inflation in February was 8.3%.

The central bank retained a medium-term inflation target of 5%. The decision cited uncertainty around demand-supply balance and still-elevated inflation expectations.

For investors, the tight stance sustained a high benchmark for local-currency yields, bank margins and the discount rates applied to corporate cash flows.

This material is provided for general information only and does not constitute investment, legal or tax advice, or an offer or solicitation in any jurisdiction.