Monetary Policy Decision - Muted Reaction from Markets / 1st Rate Cut Market Expectations are centered in the Aug - Oct 2024

The Monetary Policy Decision : 

Interest Decision   

        No change 6.25% - 6.50% - 6.75% (SDF - Repo - MSF). Voting 5 / 6 in favor of no change

Policy Stance        

Withdrawal of Accommodation

Liquidity management

           No measures announced. Central Bank will continue to be nimble in liquidity management

Projections

Projections were largely unchanged and though the March monthly bulletin had higher growth projections, the same was not revised in the monetary policy.