N. Macedonia's central bank raises key policy rate 

Banking

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North Macedonia's central bank said on Wednesday it decided to increase its policy rate by 0.50 percentage points (pp) to 2.5%, its fourth hike this year, according to a report by Seenews.

The National Bank of Republic Macedonia added, it took into account the continuously increasing inflation rate when taking the decision.

The average inflation in the country reached 10% in the January-June period, which is higher compared to the central bank's latest projections.

In May, the central bank raised its average inflation forecast for 2022 to 8.8% from the previously expected 2.4%, reflecting the rising global prices of primary products and disruptions in global supply chains.

The central bank also decided to offer MKD 10 billion (EUR 162 million) worth of central bank bills at an auction on Wednesday, unchanged in comparison with the amount offered at the last auction held on June 15.

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