Financial News: North Macedonia Central Bank Lowers Interest Rate To

North Macedonia Central Bank Lowers Interest Rate To 5.55%

12/19/2024 - 10:35:00 (RTTNews)

(RTTNews) - North Macedonia's central bank cut its key interest rate again in December as policymakers assessed that inflation is moving within the forecast range and the foreign exchange market developments are favorable. The Executive Board decided to lower the interest rate on CB bills by 25 basis points to 5.55 percent following its meeting on December 17, the National Bank of the Republic of North Macedonia announced on its website on Thursday. The rate was reduced for the third policy session in a row.

The board also reduced the deposit facility rate on overnight and 7-day tenures by same volume to 3.95 percent and 4 percent, respectively.

The supply of CB bills at the regular auction remains unchanged at MKD 10 billion, the bank said.

"The Committee assessed that the latest conditions in the economy enable further gradual normalization of the monetary policy setup," the bank said.

"This change in the interest rates means that the vigilant approach in the monetary policy conduct remains, which is conditioned by enduring external risks, as well as domestic factors that affect the aggregate demand," the bank added.

The previous change in the key interest rate was a quarter-point reduction in October. Headline inflation accelerated to 4.3 percent in November from 3.5 percent in October mainly due to higher food prices caused by the base effect. On the other hand, core inflation is slowing.

Inflation is estimated to average 3.5 percent this year, the bank said.

The economy grew 3 percent in the third quarter, roughly in line with the central bank's forecast.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Cyprus HICP Inflation Rises To 3.1%, Highest In 14 Months (26 min(s), 17 sec(s) ago)
(RTTNews) - Cyprus's EU measure of consumer price inflation accelerated further in December to ...Full Story»

Eurozone Current Account Surplus At 3-Month Low (32 min(s), 17 sec(s) ago)
(RTTNews) - The euro area current account surplus fell to a three-month low in November, the Europ ...Full Story»

Italy's Current Account Deficit Narrows In November (01 hr(s), 01 min(s), 17 sec(s) ago)
(RTTNews) - Italy's current account surplus decreased in November from the previous year, the ...Full Story»

Eurozone Inflation Confirmed At 2.4% (01 hr(s), 59 min(s), 17 sec(s) ago)
(RTTNews) - Eurozone inflation rose to a five-month high in December, as initially estimated, fina ...Full Story»

Malaysia Economy Logs Slower Growth (02 hr(s), 51 min(s), 17 sec(s) ago)
(RTTNews) - Malaysia's economy logged a softer growth in the fourth quarter as expansions in m ...Full Story»

Slovakia HICP Inflation Eases To 3.2% (03 hr(s), 19 min(s), 17 sec(s) ago)
(RTTNews) - Slovakia's EU measure of inflation eased in December to the lowest level in three ...Full Story»

Czech Producer Price Inflation Climbs To 2.8% (03 hr(s), 48 min(s), 17 sec(s) ago)
(RTTNews) - The Czech Republic's industrial producer price inflation accelerated for the third ...Full Story»

UK Retail Sales Fall Unexpectedly (04 hr(s), 39 min(s), 17 sec(s) ago)
(RTTNews) - UK retail sales declined unexpectedly in December on falling food store sales, data fr ...Full Story»