Overview
- The reduction from 15.5% marks the second cut of 2026 and the seventh since the 21% peak set in September 2024.
- Annual inflation measured 5.9% as of March 16, according to the central bank.
- The bank projects inflation at 4.5–5.5% in 2026 and a return to its 4% target next year.
- Officials report price growth slowed last month after a January bump linked to a value-added tax increase.
- The bank warns that rising global price pressures and heightened geopolitical tensions, including the Iran war, pose persistent upside risks to inflation.