The central bank of North Macedonia continued a modest programme of monetary tightening on June 14, adding 25 basis points to its policy rate. This is the third such increase in succession, bringing the policy rate to 2%.

In its statement, the central bank’s monetary policy committee said the move would encourage an increase in deposits denominated in North Macedonian denars.

The MPC’s statement cited high inflation, which it said averaged 9.1% between January and May. The North Macedonian