Kyrgyz central bank lowers policy rate to 8%
The National Bank of the Kyrgyz Republic lowered its policy interest rate by 200 basis points to 8% on March 29, the bank disclosed after a meeting of the board.
The decision was based on the continuing downward trend of the inflation rate, which is mainly driven by falling domestic prices for food and petroleum products, according to the central bank’s statement. Consumer price index (CPI) “declined by 0.71% (as of March 18), reaching 0.8% in annual terms”, the statement said. Given the current slowdown in economic activity in the country, the decision to lower the policy rate “will support measures to stimulate the real sector of economy to restore its upward trend while maintaining low inflation risks in the current year”.
The National Bank expects “moderate inflation growth” in 2016 at “the lower limit of 5-7%”, the statement added. Maintaining the 5% to 7% inflation rate is the bank’s “policy for the medium term”.
Related Articles
Turkish authorities reportedly plan to curb interest rate race for deposits
Turkish authorities are set to step in to end a potentially dangerous race among the country’s banks to attract deposits, fearing the aggressive strategy may hit the economy through higher lending ... more
Hungarian PM announces generous family support scheme in big election drive
Prime Minister Viktor Orban has outlined ambitious new family policies at the Budapest Demography Forum to challenge Hungary's falling demographics.The government's aim is to increase the number of ... more
Ukraine's central bank cuts key policy rate to 12.5%
The National Bank of Ukraine (NBU) will cut its key policy rate by 0.5 percentage points to 12.5% per annum from May 26. The move is consistent with the pursuit of inflation ... more
Selected articles from our premium news/views wire 
IntelliNews Pro
IntelliNews- Macedonian parliament expected to vote in new government on May 30
- Turkish authorities reportedly plan to curb interest rate race for deposits
- UN creates trust fund to benefit communities following report on alleged human rights abuse in Kosovo camps
- Erdogan, Putin discuss deepening strategic relationship
- Total hopes to seal South Pars gas deal with Iran before summer
- More from IntelliNews Pro >>
Most Read This Week
- Azerbaijan's IBA angers creditors with debt restructuring plan
- Ukrainian prosecutors raid ex-PrivatBank execs and firms suspected of €9bn fraud
- New law to allow Romania’s “port oligarchs” to cash in
- COMMENT: Rebuilding trust in Ukraine’s financial system
- IBA's default expected to damage Azerbaijan's international reputation
Follow Us On
Tweets by @bizneweuropeRegister here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.
Already a subscriber or registered - click here to recover access.
If you a IntelliNews Pro user - click here to login.
Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.
To continue viewing our content you need to complete the registration process.
Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.
Already a subscriber or registered - click here to recover access.
If you a IntelliNews Pro user - click here to login.
If you have any questions please contact us at sales@intellinews.com
Subscribe to bne IntelliNews website and magazine
Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.Your subscription includes:
- Full access to the bne content daily news and features on the website
- Newsletters direct to your mailbox
- Print and digital subscription to the monthly bne magazine
- Digital subscription to the weekly bne newspaper
Already a subscriber or registered - click here to recover access.
If you a IntelliNews Pro user - click here to login.
bne IntelliNews
$119 per year
All prices are in US dollars net of applicable taxes.
If you have any questions please contact us at sales@intellinews.com
Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.
Already a subscriber or registered - click here to recover access.
If you a IntelliNews Pro user - click here to login.
Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.
IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.
"No day starts for my team without IntelliNews Pro" — UBS
Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.