Key facts
- Kyrgyzstan's central bank held its key interest rate steady at 12%.
- The decision was influenced by prevailing external inflationary pressures.
- Domestic factors were deemed more predictable.
- The NBKR acknowledged the presence of excess liquidity in the domestic market.
- The central bank reaffirmed its commitment to a tight monetary policy.
The National Bank of the Kyrgyz Republic (NBKR) announced its decision to keep the key interest rate unchanged at 12%. The monetary policy committee cited external inflationary trends as a primary concern influencing the decision. While external factors are seen as prevalent, domestic economic factors are considered more predictable. The bank also acknowledged the existence of excess liquidity within the domestic market. Despite this, the NBKR reiterated its commitment to maintaining a tight monetary policy stance. The medium-term inflation target remains unaltered.