The National Bank has increased the refinancing rate by 0.5%, putting the overall rate at  4.5%. The decision was made in a meeting with the Monetary Policy Committee (MPC).

According to existing forecasts, inflation will remain below its 5% target value in the first half of 2015 and will reach its target by the end of the year.

The change in the exchange rate is the natural reaction of the economy to external imbalances and as such will cushion the economy against the negative impacts.