North Macedonia's central bank, NBRM, decided to raise its policy rate by 0.25 percentage points (pp), to 5.5% (chart), as uncertainties related to anticipated inflation trends remained high, it said on March 22.
The central bank also decided to increase the interest rate on overnight deposits by 0.25 pp to 3.4% and the rate on seven-day deposits also by 0.25 pp to 3.45%.
The NBRM also said in the statement it expects annual inflation to continue slowing down in the coming months, but future price dynamics of primary products on the stock exchanges remain highly uncertain.
North Macedonia's central bank raised its key rate by 0.5 pp in February. It also increased the key rate eight times last year.