DUSHANBE, Tajikistan, October 19. Eurasian Development Bank (EDB) analysts anticipate that the National Bank of Tajikistan will keep its refinancing rate unchanged at 10 percent during the upcoming monetary policy committee meeting on October 27, Trend reports.
This decision, according to the EDB, will support inflation stability within the target range set by the National Bank of Tajikistan. The meeting will be the final one scheduled for the current year.
EDB highlights that inflation in the country increased to 4.2 percent year-on-year in August, up from 2.3 percent year-on-year in July. This growth brings prices back into the target range defined by the National Bank of Tajikistan.
EDB attributes the acceleration of inflation to factors such as robust domestic demand, increasing global energy prices, and rising costs in Russia, which serves as Tajikistan's primary source of imports.
In its June 2023 outlook, EDB analysts predicted a refinancing rate of 10 percent for Tajikistan in 2024. Looking ahead to 2025, the bank expected the refinancing rate in Tajikistan to decrease further to 9.3 percent.
The National Bank of Tajikistan lowered the refinancing rate from 11 percent to 10 percent in May 2023. It is the minimum rate recorded since 2016.