The rate cuts were the first by the SBV since October 2017. According to the SBV, this move is meant to stabilize interest rates / in response to rising interest rates in the international market. It is expected to contribute to macroeconomic stability and supporte growth at reasonable levels.
Experts have also said that this adjustment will not have a significant impact on inflation because credit growth and money supply growth targets were set from the beginning of the year. The SBV will continue to control credit growth at 14%.
