State Bank has announced the monetary policy for the next 2 months.
According to the details, the State Bank has increased the interest rate by 1 percent while announcing the monetary policy, according to the announcement of the central bank, the interest rate has reached 16 percent after the increase.
In the previous monetary policy, the interest rate was kept at 15 percent.
State Bank has increased the policy rate for banks by 100 basis points to 16 percent.
State Bank says inflationary pressures are persistent and higher than expected, the one percent increase in interest rate is aimed at preventing inflation from rising.
According to the State Bank statement, the purpose of the decision is also to stabilize the financial sector.