National Bank of Tajikistan reduces refinancing rate by 0.3 percent points
National Bank of Tajikistan reduced refinancing rate by 0.3 percent points, setting it at 6.5 percent per annum, Avesta.Tj reported.
According to the country's National Bank, this action is taken to lower average interest rates on loans in the banking system, as well as for efficient implementation of the country's monetary policy.
According to the source in the National Bank of Tajikistan, in early July 2012 the refinancing rate reduced by 1.2 percent points from 8 percent and was set at 6.8 percent per annum. The refinancing rate is the main lever of monetary policy.
The refinancing rate is an instrument of monetary regulation, through which the National Bank influences the interbank market, as well as the interest rates on loans and deposits, provided by lending institutions to legal and physical entities.