Ulaanbaatar
Central bank policy rate lowered to 12 percent
Economy
Ulaanbaatar /MONTSAME/ The Bank of Mongolia’s Monetary Policy Committee held a meeting today, June 15 and lowered the policy interest rate down to 12 percent. Previously, the interest rate was set at 14 percent by the committee’s decision on March.
The committee considered that the inflation was lower than the expected and analysis indicates that inflation is expected to be below the target level this year. The decision was made to join IMF program in May. The strengthening foreign exchange inflow and balance of payment were the main factors in lowering the policy interest rate.
The committee considered that the inflation was lower than the expected and analysis indicates that inflation is expected to be below the target level this year. The decision was made to join IMF program in May. The strengthening foreign exchange inflow and balance of payment were the main factors in lowering the policy interest rate.
B.Tugsbilig
