Central Bank Maintains Repo Rate At 3.50 Per Cent

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Central Bank Maintains Repo Rate At 3.50 Per Cent

There was a two point five percent growth in terms of economic activity in the country in 2022, according to latest estimates contained in the Central Bank’s Monetary Policy.

This reflected a relatively favourable performance in the energy sector alongside a gradual revival in non-energy production.

The report said there is some early evidence of improving labour market conditions based on observed increases in labour force participation in the third quarter of 2022 and the decline in the number of persons retrenched during the second half of 2022.

The outlook for 2023 looks favourable, barring major external shocks.

The next Monetary Policy Announcement is scheduled for June 30, 2023.

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