Skopje, 20 September 2022 (MIA) – National Bank Governor Anita Angelovska-Bezhoska met Tuesday with European Union Ambassador David Geer and the Delegation economic team, discussing current developments and the impact of the war in Ukraine and the energy crisis on the European and national economies. The meeting focused the role of the central banks in tackling inflation that has hit countries worldwide, the National Bank said in a press release. Interlocutors said the strong and long-term shock on global energy and food prices represents the main factor that fuels the global and national economies. This is especially reflected in the small and open economies, such as the Macedonian, where most of the products are imported, while food and energy have a big share in total consumption. As a result of the force and duration of the shock, central banks are increasing interest rates. Ambassador Geer said the National Bank has gradually increased the basic interest rate in order to slow down inflation. “In this regard, the central bank has decided to gradually increase the interest rate, as many other central banks have done, including the European Central Bank,” said Geer.