Monetary Policy Statement

2023-03-15 16:12:57

Ulaanbaatar, March 15 2023 /MONTSAME/. The Monetary Policy Committee of the Bank of Mongolia (MPC) held its scheduled meetings on March 14 and 15, 2023. Taking into consideration current state of the economy and financial markets as well as outlook and risks to the domestic and external economic environment, the MPC decided to:

1. Keep the policy interest rate at 13%;  

2. Narrow the policy rate corridor to be set as 1 percentage points above and below the policy rate and;

3. Exclude certain bank liabilities with maturities of at least 360 days and more that are newly funded on international markets in the

form of bonds or loans from required reserve liabilities.

Annual inflation reached 12.2 percent nationwide and 12.1 percent in Ulaanbaatar city as of February 2023.

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