Mongol Bank reduced its Interest rate by 1.25%

Jun 16 • Economy • 5 Views • 2 Comments

Following a tight Interest rate policy from Mongol Bank we have seen positive impact on inflation and stronger value of MNT against foreign currencies. Mongol Bank set the Interest rate at 11.5% which is a decrease of 1.25% unit. Mongol Bank is able to reduce the Interest rate as we are experiencing slower rate of Inflation in the Economy which was 0.1% in May. As for now, to build a healthy economy it is important to encourage consumer spending by reducing the Interest rate and passing it on to the Combanks and to the customers. Economists predict that this help to slow down the current Economic crisis.

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0.1% inflation in May Bank of Mongolia Interest Mongolia Mongol Bank Mongol Bank reduced its Interest rate by 1.25%

About the Author: Badrakh Batkhuyag

2 Responses to Mongol Bank reduced its Interest rate by 1.25%

Mongol Bank reduced its Interest rate by 1.25% | Mongolia Business … « Business News says:

June 16, 2009 at 8:40 pm

[...] Read the rest of this great post here [...]
Barry says:

August 11, 2009 at 8:13 pm

It is an impossiblilty to borrow your way out of debt.
Why the worry about inflation, no one has money to spend. No money to spend repaying loans, no borrowing from banks. “B”