The National Bank increased the basic interest rate by 0.5 percent to 3 percent. The bank also increased the interest rates on overnight and seven-day deposits by 0.5 percent each and they now amount to 0.90 versus 0.95 percent. .
As the National Bank announced, when making the decision, the movements in inflation were taken into account, which also increased in August, but more moderately.
“These changes would contribute to further encouraging savings in domestic currency, which would be achieved through changes in the banks’ interest policy in favor of offering relatively more favorable interest rates on denar deposit products,” NBRM said.