Skopje, 8 April 2003
Press release of the NBRM
The National Bank of the Republic of Macedonia Council, monitoring the movements in the economy, especially in the financial area, adopted today a Decision on further reduction of the interest rates set by the National Bank of the Republic of Macedonia.
Namely, the NBRM Council passed a Decision on lowering the discount rate of the National Bank from 8.00% to 6.50%, while the interest rate o the Lombard credits was reduced from 17.50% to 16.00%.
Simultaneously, the Council also adopted a Decision according to which, starting from April 11, 2003 (Friday), the volume tender shall be applied at the CB bills auctions, and the interest rates on the treasury bills with maturity of 28 days shall be limited to 7.00%.
With this decrease in the interest rates, the National Bank of the Republic of Macedonia expects from the commercial banks to finally start lowering their interest rates which are applied for the credits extended to the economic agents and the households. In addition, the National Bank expects that such a policy will preserve the stability of the Denar exchange rate as a nominal anchor of the economic policy and inflation within the projected movements of up to 3% annually, and thus contribute towards stimulating the economic activity in the Republic of Macedonia.
Governor’s Office
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