National Bank Governor Slaveski maintains 4.25% interest rate

Trajko Slaveski, Governor of the National Bank, has stated that the current monetary stance remains appropriate, with the key interest rate maintained at 4.25%. Slaveski noted that the central bank possesses all necessary tools to react should economic conditions require it.

Foreign exchange reserves have reached approximately 5.1 billion euros, nearly double the pre-pandemic levels seen in 2019. This growth is supported by favorable movements in the external sector, including exports, imports, foreign direct investment, and portfolio investments. These reserves serve as a critical instrument for maintaining the stability of the nominal exchange rate.

Regarding inflation, annual rates showed moderate movement, rising from 2.3% in July to 2.6% in August. Slaveski indicated that August data suggests a limited impact of energy and crude oil price fluctuations on domestic prices.