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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