The National Bank of the Kyrgyz Republic kept the discount rate at 9 percent. Management of the National Bank of the Kyrgyz Republic reported following the meeting on January 27, 2025. The decision comes into force on January 28.
Price dynamics in the country remain moderate. Inflation is within the medium-term target values (5-7 percent). According to the results of December 2024, the annual inflation rate was 6.3 percent, and as of January 17, 2025 — 6.5 percent.
The economy of Kyrgyzstan in 2024 showed a steady growth of 9 percent. The largest contribution was made by the services sector and construction. Domestic demand is supported by an increase in real incomes of the population, an increase in money transfers and an expansion of consumer lending.
The monetary policy of the National Bank helps maintain stability in the foreign exchange and money markets. The banking system has a high level of liquidity. Financial and credit organizations demonstrate stability, continuing to lend to key sectors of the economy and strengthen their resources.
The National Bank notes the uncertainty of foreign economic prospects due to geopolitical factors and rising global food prices. In addition, inflationary pressure remains high in Kyrgyzstan’s trading partner countries, which also affects internal processes.
The National Bank emphasizes that keeping the key rate is due to the need to maintain price and macroeconomic stability. In the event of a change in economic conditions, the bank is ready to adjust monetary policy.
The next meeting on the discount rate is scheduled for February 24, 2025.
The discount rate is the interest rate at which the National Bank lends to commercial banks. It influences the interest rate of lending by commercial banks to entrepreneurs and ordinary citizens.