Mongolian M2 money supply grows by 14.4% y/y in October

By bne IntelliNews November 19, 2014

Mongolia's M2 money supply grew to MNT9,969bn ($5.32bn) in October, up from MNT8.716bn in October 2013, the central bank said in its monthly bulletin published on November 18.

M2 money supply peaked in January 2014 to MNT10,022bn and remained stable throughout 2014. M1 money supply was MNT1,751bn in October, down by 9.6% from October 2013.

The country's monetary authorities are phasing out the expansionary monetary policies adopted in 2012 and 2013 to tackle growing inflationary pressure - CPI jumped to 14.9% y/y in July and was 12.1% y/y in October.

Related Articles

Mongolia’s 2017 GDP expands 5.1% driven by bailout and coal exports to China

Mongolia’s economy grew by 5.1% y/y in 2017, up from the 1% growth recorded in 2016, according to latest figures issued by the National Statistics Office of Mongolia. The recovery was mainly ... more

Mongolia bets on cashmere industry development to diversify mining-heavy economy

The Mongolian government has approved a four-year programme to boost the country’s cashmere industry in an effort to diversify Mongolia’s mining-dependent economy, Xinhua news agency reported on ... more

Dutch SOMO and Mongolia’s OT Watch allege Rio Tinto scheme caused massive tax losses

The Dutch Centre for Research on Multinational Corporations (SOMO) and Oyu Tolgoi Watch (OT Watch) published a report on January 31 alleging that the tax planning of ... more