MPC Votes Unanimously to Keep Policy Rate at 1.50%, Cutting 2019 GDP from 3.3% to 2.8%

On 25 September 2019, the Monetary Policy Committee (MPC) has voted unanimously to maintain the policy rate at 1.50%. Moreover, the committee has revised down 2019 GDP growth forecast to 2.8% from 3.3% after exports had plunged more than anticipated.

The overall financial condition is easing while the financial stability has been partly relieved. In addition, MPC expects GDP to expand 3.3% in 2020.