At its 9 January monetary policy meeting, the Central Bank decided to keep the BI policy rate at 7.50% for the second consecutive meeting. The decision matched market expectations. The BI policy rate currently stands at its highest level since April 2009 after having increased by a cumulative 175 basis points over the course of the past eight months. This month’s decision to keep rates unchanged comes amid ongoing economic improvements, including stabilized inflation and a growing trade surplus. 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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