The Board of the National Bank decided to keep the discount rate (key rate) at 14 percent. Official website of the bank says.
Growth of the Kyrgyz economy in January-March 2022 reached 4.5 percent (excluding companies developing the Kumtor mine — 3.8 percent). It is associated to a greater extent with the recovery of economic sectors after the decline in early 2021. The highest indicators were registered in industry, services and agriculture.
In perspective, uncertainty in terms of both global and regional economic development has significantly increased and predetermines further economic processes in Kyrgyzstan. This includes the dynamics of inflation.
In the current realities, the key factor is to maintain macroeconomic and financial stability.
National Bank
«As a result of timely measures taken by the National Bank, the situation in the money and currency markets remains relatively stable. At the same time, there is some volatility in these segments, as well as in the financial market as a whole. This is primarily due to the openness and small size of the economy of Kyrgyzstan, close ties with the countries — major trading partners,» the National Bank of the Kyrgyz Republic notes.
Taking into account the conditions of development of external and internal economic environment, the National Bank decided to keep the discount rate at 14 percent.
«The ongoing course of the monetary policy is aimed at curbing inflationary risks and reducing inflation expectations in Kyrgyzstan. This level of the key rate meets the macroeconomic conditions of the country and reflects the policy of the National Bank with regard to the existing risks in the economy.
The National Bank continuously monitors the emerging situation and, if necessary, takes appropriate measures to achieve the price stability in the medium term,» the National Bank of the Kyrgyz Republic stressed.
The next scheduled meeting of the Board of the National Bank on the size of the discount rate will be held on May 30, 2022.
