According to BNR, the decision reached during the Monetary Policy Committee (MPC) meeting aligns with the inflation projection and the risks identified and with the aim of achieving lasting inflation stability in the upcoming quarters.

The Central Bank has disclosed that inflation is projected to remain within the band of 2 to 8 percent, averaging close to 5 percent.

However, it disclosed that several potential risks could affect this outlook , including geopolitical tensions such as the ongoing wars in Ukraine and in the Middle East, disruptions in the Red Sea that may influence international commodity prices, and weather-related challenges that could affect future agriculture sector performance.

BNR has maintained repo rate at 7.5 percent.