Mongolian Central bank lowers key rate

Oyundelger 2016-12-20 12:12

Economy

The central bank of Mongolia announced the decision of its Monetary Policy Council to lower the bank’s key rate by 1%.

Mongolian Central bank lowers key rate. The central bank of Mongolia announced the decision of its Monetary Policy Council to lower the bank’s key rate by 1%. In August, the key rate was increased by 4.5 percent to 15 percent. The Mongolian inflation rate has been low, while, the tugrik weakened by some 8% against US dollar in August. The balance of trade in Mongolia increased by $602 million in first half of this year compared to the same period of the last year.