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Statement on the Monetary Council Meeting of 21 January 2002


Based on its assessment of recent economic and financial developments, the Monetary Council has lowered the central bank base rate by 50 basis points, from 9.50% to 9.00%. The decision will take effect from 22 January 2002. The reduction in the central bank base rate is in line with the NBH's inflation targets of 4.5%±1% and 3.5%±1% respectively for end-2002 and end-2003.