The National Bank of Tajikistan has cut its headline rate, continuing an easing cycle that began in January, as inflation becomes lower and more stable.

The 75 basis point reduction on March 20 brings the rate to 14%, and follows a cut of 1.25 percentage points on January 23.

In a statement, the central bank says the move was made in response to the “stabilising and declining inflation trajectory”.

Inflation fell to 5.2% in February, towards the lower end of the target range of 7% plus or