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HomeEconomyThe Central Bank of Mongolia raised the policy interest rate to 10%

The Central Bank of Mongolia raised the policy interest rate to 10%

Jun 22, 2022 04:29 PM (GMT+8)
· EqualOcean

At the press conference, the governor of the Central Bank of Mongolia, ragvasulun, said that in order to stabilize the inflation expectation of Mongolia in the medium term, promote the internal and external balance of the economy and maintain the relative stability of the local currency exchange rate, the bank’s monetary policy committee decided to increase the policy interest rate by 1 percentage point to 10% on the existing basis. It is reported that the national inflation rate of Mongolia will reach 15.1% in the first five months of 2022. Among them, the inflation rate in the capital Ulaanbaatar is as high as 16.2%. The rise in the prices of fuel, food and imported goods is the main reason for the rise in the inflation rate in Mongolia in the first five months of this year.

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