Sixth monetary policy announcement on Thursday

The sixth monetary policy for this year will be announced on Thursday, August 24, the Central Bank said.

The Monetary Board of the Central Bank began relaxing the country’s ultra-tight monetary policy in June by delivering a 250-basis policy rate cut, which was followed by another 200-basis policy rate cut in July.

Meanwhile, in early August, CB slashed banks’ reserve requirement or the Statutory Reserve Ratio by 200 basis points to accelerate the reduction in lending rates in the economy.