Translated with AI
The National Bank of Tajikistan (NBT) has lowered its refinancing rate for the third time since the beginning of 2025, according to an official statement from the regulator's press service.
The interest rate was reduced by 0.5 percentage points—from 8.25% to 7.75% per annum. The decision was made at a meeting of the NBT Monetary Policy Committee as part of the ongoing policy of easing monetary conditions.
"The reduction in the key rate is due to the need to maintain macroeconomic stability, stimulate economic activity, and keep inflation within established parameters," the regulator noted.
Previously, the refinancing rate was reduced twice: in February 2025, from 9% to 8.75% (by 0.25 percentage points), and in May, from 8.75% to 8.25% (by 0.5 percentage points).
Thus, the overall decline since the beginning of the year amounted to 1.25 percentage points.
Authorities previously reported a decline in inflation in the country. Based on the results of the first half of the year, Tajikistan has one of the lowest inflation rates among CIS countries. The government plans to maintain consumer inflation at 5% in 2025.
The National Bank emphasized that it will continue to pursue an effective monetary policy to maintain domestic price stability and support sustainable economic growth.
