Bank rate stays unchanged

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At the Monetary Policy Committee meeting held today, the Bank kept the bank rate unchanged at 11 percent. The last change in the bank rate was a 50 basis points reduction in August 2009.

Inflation rose for the second consecutive month in September 2009, remaining above the upper  end of the Bank's medium-term objective range of 3 - 6 percent. Despite the short term increase,  inflation is expected to stabilise around the objective range in the medium term. 

The inflation  outlook reflects a combination of global and domestic economic developments.

Editor's Comment
Women unite for progress

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