Monetary Policy
Press Releases
MPC Press Release - July 2014
Wednesday, 09 July 2014 00:00

The global economy continued its gradual recovery process in the year, despite some moderation in the first quarter. Growth is expected to pick up bolstered by the strong policy actions including banking and financial sector reforms, and improved labour market conditions in the advanced economies.

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MPC Press Release - April 2014
Wednesday, 02 April 2014 00:00

The risks to inflation remains high. However the Committee is of the view that the impulses from the recent monetary policy hike are still working through the system, and therefore decided to maintain the policy rate at 18.0 percent.


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MPC Press Release - February 2014
Thursday, 06 February 2014 00:00

In the medium to long term, government must seek to broaden the tax base further, diversify and broaden the export base, reduce imports especially of consumption goods that have local substitutes, and intensify efforts to block foreign exchange leakages, such as transfer pricing. We are aware of efforts by Government in this direction.

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MPC Press Release - November 2013
Wednesday, 27 November 2013 14:23

The Committee held the view that the upside risks to inflation, though elevated, are mainly structural and therefore may not need to be addressed by a policy rate adjustment at this time. On the other hand there are no significant risks to growth. Consequently, the Committee decided to maintain the policy rate at 16.0 percent. The Committee will continue to monitor developments and take appropriate action if required.

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MPC Press Release - September 2013
Wednesday, 18 September 2013 00:00

Growth remains subdued, while market volatility and stability risks persist. Economic activity in advanced economies has recorded some improvements. In contrast, the growth momentum in emerging and developing markets has slowed, with challenges arising from domestic and external developments.

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Press Releases