Tajikistan cuts rate by 40 bps due to lower inflation

    Tajikistan's central bank cut its refinancing rate by 40 basis points to 6.1 percent in light of a decline in inflationary pressures and the impact of external factors.
    The National Bank of Tajikistan, which last cut its rate by 30 basis points in August last year, also said in a statement from July 9 that the rate cut should make implementation of monetary policy more effective and lead to a decline in average interest rates on loans in the banking system.
    Tajikistan's inflation rate eased to 5.6 percent in May from 5.9 percent in April while its Gross Domestic Product expanded by an annual 7.3 percent in the first quarter of 2013, down from a pace of 7.5 percent in the previous quarter.

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