Mongol bank keeps policy interest at 12 per cent

Oyundelger 2017-09-18 03:09

Economy

Mongol bank keeps policy interest at 12 per cent.

Mongol bank keeps policy interest at 12 per cent. The Monetary policy council of Bank of Mongolia held its meeting and made a decision to keep the policy interest at 12 per cent.  The decision complies with goals to stabilize inflation at targeted level in midterm and ensure economic stability in the mid and long term. As of August this year annual inflation, expressed in consumer price index is 5 per cent in nationwide and 5.4 per cent in Ulaanbaatar.  The economic growth surpassed the expectation in the first half of this year, going up by 5.3 per cent compared to the same period of last year. It is expected that economic growth would rise further and inflation would be stable at the targeted 8 per cent in the midterm. Economy has been activated because of positive changes in external economy and investment increase in mining sector caused by uphold of export products’ high price. Though such positive tendency has been observed in economy and confidence of market stakeholders has revived, further perspective will depend significantly on export products’ price and amount.