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National Bank of Kyrgyzstan to keep rate at 13 percent in next six months

«We believe that the National Bank of the Kyrgyz Republic may keep the discount rate at 13 percent during the first half of 2024 due to risks,» the weekly macroeconomic review of the Eurasian Development Bank (EDB) says.

The EDB recalled that the National Bank kept the rate at the same level. It was noted that annual inflation rate has been steadily declining mainly due to a slowdown in price growth in the food basket.

«More inertial dynamics is observed in the non-food segment and the services sector. The bank pointed to the persistence of pro-inflationary risks from domestic demand and high inflation expectations. The decision taken is aimed at stimulating the saving behavior of the population and stabilizing inflation expectations,» the EDB stresses.