Tajikistan Cuts Key Rate to Lowest Level Since 2014

2025-10-29 15:55 By Joana Ferreira 1 min. read

The National Bank of Tajikistan lowered its key refinancing rate by 25 basis points to 7.50% during its October meeting, bringing borrowing costs to their lowest level since 2014.

The decision follows a continued downward trend in inflation, which fell to 2.8% in September, its lowest level since July 2023 and below the central bank’s target range of 3%-7%.

Meanwhile, real GDP growth remained robust, reaching 8.2% between January and August 2025, supporting the central bank’s more accommodative policy stance.



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Tajikistan Cuts Key Rate to Lowest Level Since 2014
The National Bank of Tajikistan lowered its key refinancing rate by 25 basis points to 7.50% during its October meeting, bringing borrowing costs to their lowest level since 2014. The decision follows a continued downward trend in inflation, which fell to 2.8% in September, its lowest level since July 2023 and below the central bank’s target range of 3%-7%. Meanwhile, real GDP growth remained robust, reaching 8.2% between January and August 2025, supporting the central bank’s more accommodative policy stance.
2025-10-29
Tajikistan Trims Key Rate to 8.25%
The National Bank of Tajikistan lowered its key refinancing rate by 50 basis points to 8.25% during its April 2025 meeting, marking the second consecutive rate cut since the start of the year. The decision comes as inflation remains at the lower bound of the central bank’s target range, with policymakers also considering the effects of domestic and global commodity prices. The annual inflation rate eased to a six-month low of 3.4% in March, from 3.6% in February.
2025-04-30