Nineteen of 20 analysts projected a 15bp cut at the May policy meeting in a poll conducted earlier this week, MTI said, citing Reuters.
One analyst forecast a 10bp cut. Half of the analysts said one more cut would follow. Their median forecast for the year-end base rate rose to 0.83pc from 0.75pc in the previous poll a month earlier. The National Bank’s Monetary Council has cut the base rate in 15bp increments at the last two monthly policy meetings.
At the meeting in April, the rate-setters said that achieving the central bank’s inflation target “pointed to a further slight reduction in the policy rate”.
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