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National Bank retains discount rate at 5 percent

The Board of the National Bank of Kyrgyzstan has retained the discount rate at the level of 5 percent. Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov announced this at a press conference today.

According to him, the current inflation is within the expected values ​​of the National Bank and is approaching the bottom of the target benchmark of monetary policy. Gradual recovery of demand has an impact on inflation in the country. The increase in annual growth rates for fruit and vegetable products and services provided the largest contribution to the formation of actual inflation.

As of June 16, 2017, inflation amounted to 4.4 percent.

«There is a restoration of domestic consumption. There is an increase in production in the main sectors of the economy. One of the facts of improving the indicators of production potential is an increase in lending to the economy in the national currency and a reduction in interest rates on loans in both national and foreign currencies," Tolkunbek Abdygulov told.

The next meeting of the Board of the National Bank on change of the discount rate is scheduled for August 28, 2017.