Central bank decides to keep policy rate unchanged

2021-06-23 18:13:28

Ulaanbaatar /MONTSAME/. At its meeting held today, the Monetary Policy Committee of the Bank of Mongolia took into consideration the current state and outlook of the economy and financial markets, as well as the uncertainties and risks inherent in the domestic and external environments, and reached a decision to:

  • Keep the policy rate at 6 percent;
  • Increase the amount of long-term repo financing which is to be issued in the third quarter of 2021 by up to MNT 250 billion.

The inflation rate is projected to remain at the target level of 6 percent in the near future. Currently, it stands at 6.7 percent nationwide and 6.2 percent in Ulaanbaatar city. This was mainly due to the economic growth, cash provided to the citizens, and the increase in the price of meat.