No change in interest rate policy -CB
View(s):With inflation at near-zero levels in June, increasing credit use against a low interest regime, and gross official reserves rising (however primarily through borrowed cash), the Central Bank’s Monetary Board, at its meeting on Thursday decided to continue with current interest rates.
“Accordingly, the Monetary Board decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank unchanged at 6 per cent and 7.50 per cent, respectively,” the Bank said in a statement. It also said the Department of Census and Statistics (DCS) has replaced the base year for national accounts statistics from 2002 to 2010, while upgrading the compilation methodology to comply with the United Nation’s System of National Accounts – 2008 (SNA 2008). According to the rebased national accounts statistics, real GDP growth for the first quarter of 2015 is estimated at 6 per cent with strong performance in the Services sector.