In its decision-making regarding the level of the base rate, the National Bank performs the analysis and makes estimates for macroeconomic variables including for the inflation. The analysis is performed on a quarterly basis; forecasts are made for the time horizon of up to 6-8 quarters. The analysis and forecast results are published in the National Bank’s periodical entitled ‘Monetary Policy Report’. The periodical has been issued on a quarterly basis since 2004.

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