The National Bank's monetary policy stance aims to ensure further sustainable stabilization of inflation and stable inflation expectations, said Deputy Governor Ana Mitreska during a panel discussion at the Central and Eastern Europe Forum, organized by the Financial Times.
In the current environment of uncertainty, monetary policy remains prudent and the National Bank is ready, if necessary, to use all available instruments to maintain the stability of the denar exchange rate against the euro and to ensure price stability. said Deputy Governor, Ana Mitreska.
Mitreska said that inflation has dropped significantly and has fallen to single-digit levels.
"Inflation has declined significantly and has fallen to single-digit levels, as a result of the weakening of external price pressures and the implementation of a prudent monetary policy, supported by macroprudential measures. However, inflation continues to fluctuate around 4%, which is above its historical average and above the inflation rate in the euro area, but is comparable to the average inflation in Central and Eastern European countries," Deputy Governor Mitreska noted.
She emphasized that such movements indicate the existence of common regional factors that determine inflation dynamics, including wage growth and the credit cycle, with the disinflation process in our country and in the countries of the region lasting longer than in the euro area.
"Although a process of normalizing the base interest rate was initiated, it was stopped in February last year, after which the prudent monetary approach was further strengthened through the reserve requirement instrument and through the implementation of macroprudential measures, with the aim of more effectively determining inflation expectations," Mitreska emphasized. /Telegraph/
