At its 12 December monetary policy meeting, the Central Bank decided to hold the BI policy rate at 7.50%. The move was expected by the market. The BI policy rate currently stands at its highest level since April 2009 and has been increased by a cumulative 175 basis points over the course of the past seven months. The Bank also kept the deposit facility rate and the lending facility rate unchanged at 5.75% and 7.25% respectively.
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