The Macedonian Central Bank (NBRM) announced another rate hike and set its base interest rate at 1.75 percent. This is the second 0.25 percent hike in two months.
NBRM informed that they are driven by the need to respond to the latest inflation spike, which surpassed 10 percent in April. The Bank warns that the inflation for 2022 will be higher than expected.
In its statement, NBRM assures the public that its forex reserves are sufficient and that the currency market is stable.