Since April this year, we raised the key policy rate by 350 basis points to 4.5%. Interest rates on deposit and lending facilities were increased likewise to 3.5% and 5.5%, respectively.
By raising its interest rates further, the NBS is seeking to contain the second-round effects of rising global food and energy prices on other prices in the domestic market through inflation expectations, as well as to ensure that inflation strikes a downward path and retreats within the bounds of the tolerance band until the end of the projection horizon.