03.03.2011

Refinancing rate - 9 % per annum

The Board of the National Bank of Tajikistan for ensuring of efficiency of monetary policy has increased the refinancing rate of the National Bank of Tajikistan to 0,75 %. According to the above-named Resolution the given indicator is fixed at level 9,0 % per annum.  Refinancing rate as the basic lever of monetary policy changes depending on constant pressure and inflationary expectation, external influence and seasonal factors. In connection with growth of the world prices for the basic imported goods (wheat, flour, vegetable oil, oil products) and increase of prices for seasonal production (vegetables) for last months the rate of inflation in the country tended to growth. So, the rate of inflation for January of current year in the country has made 1,9 %, and level of annual inflation has reached 11,2 % whereas for the corresponding period of 2010 the given indicator has made 5,3 %.  On this basis, with a view of maintenance of stable level of money supply in circulation and decrease in influence of factors of inflation, the National Bank of Tajikistan, adhering to realization of tight monetary policy, has increased the rate of refinancing to 9,0 % per annum.  It is necessary to notice, that on October 27, last year the refinancing rate of the National Bank of Tajikistan also has been increased from 8 % to 8,25 % per annum.                          Press - Service                         National Bank of Tajikistan                        Dushanbe, March 3, 2011