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3 clusters · 7 sources · 24 days · First seen 25 days ago · Last updated about 23 hours ago

Categories: BUSINESS

North Macedonia inflation, policy and loan rates

Entities: National Bank of the Republic of North Macedonia · Macedonian government · Euro · National Bank of the Republic of Macedonia · Macedonian denar

Overview

North Macedonia’s inflation trend remained subdued in mid‑2026, with annual inflation at 3.4 % in June and a 0.5 % monthly deflation. The National Bank kept its policy rate at 4.25 % after an earlier modest hike, forecasting around 4 % inflation for the year and further easing in 2027. External risks such as geopolitical tensions and commodity‑price volatility were noted but judged manageable.

In June, the central bank reported that the average interest rate on total loans slipped to 4.67 %, a marginal 0.02‑point monthly decline and 0.36‑point drop year‑on‑year. The average deposit rate held at 2.17 % with a slight 0.03‑point decrease YoY. New approved loans were priced at 4.38 %, down 0.04 points both month‑on‑month and year‑on‑year, while newly applied deposits rose to 2.54 %, up 0.33 points month‑on‑month and 0.19 points YoY. These modest movements suggest a gentle easing of credit conditions that aligns with the bank’s stable policy stance.

Foreign‑exchange reserves remained robust at €4.936 billion, and the current‑account deficit narrowed to 1.6 % of GDP in Q1, supporting the denar’s stability as the economy projected 3.5 % GDP growth for 2026.

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 4 SOURCES] The base interest rate was kept unchanged at 4.25 percent. (National Bank of North Macedonia)
[● 4 SOURCES] Average inflation was 4.6% in the second quarter and fell to 3.4% in June. (National Bank of North Macedonia)
[● 4 SOURCES] Foreign‑exchange reserves stood at €4.936 billion at the end of June. (National Bank of North Macedonia)
[● 4 SOURCES] The current‑account deficit was 1.6% of GDP in the first quarter. (National Bank of North Macedonia)
[● 4 SOURCES] The financial account recorded net inflows of 2.9% of GDP. (National Bank of North Macedonia)
[● 4 SOURCES] Real annual economic activity grew by 3.1% in the first quarter of 2026. (National Bank of North Macedonia)
[● 4 SOURCES] GDP growth is projected at 3.5% for 2026. (National Bank of North Macedonia)
[● 3 SOURCES] The Council of the National Bank of North Macedonia approved its quarterly report. (National Bank of North Macedonia)

Timeline

about 23 hours ago

[BUSINESS] 3 sources
Macedonia, Belarus release June 2026 average loan and deposit rates
Macedonia and Belarus report June 2026 average loan rates at 4.67% and deposit rates at 2.17%, with modest monthly and yearly changes across sectors.
3 days ago

[BUSINESS] 4 sources
North Macedonia's National Bank Keeps Base Rate at 4.25% Amid Slowing Inflation
North Macedonia's central bank left the base rate at 4.25%, noting inflation fell to 3.4% in June, reserves at €4.936 bn, a 1.6% GDP current‑account deficit and 2.9% GDP financial inflows.
25 days ago

[BUSINESS] 7 sources
Macedonia's June inflation eases to 0.5% monthly deflation
Macedonia's June CPI fell 0.5% month‑on‑month, driven by lower transport and food prices, while annual inflation stays at 3.4%.

Sources

biznisvesti.mk · brankof.blog.pravda.sk · denesen.mk · makfax.com.mk · nezavisen.mk · pari.com.mk · plusinfo.mk

This summary has been updated 2 times: see revision history