Mongolian Central Bank cuts the policy interest rate by 1.0 percentage point

Apr 5 • Banking, Business, Economy, News • 1732 Views • No Comments on Mongolian Central Bank cuts the policy interest rate by 1.0 percentage point

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The Bank of Mongolia announced that the Monetary Policy Committee (MPC) of the Bank of Mongolia decided to cut the policy interest rate by 1.0 percentage point to 11.5 percent for the purpose of increasing domestic credits and investments, supporting the real sector and stimulating business activities during the committee`s meetings on the 3rd and 5th of April 2013,

Expected low impact of the government budget on inflation, decline in demand-pull and supplydriven inflationary pressure, and annual inflation outlook in upcoming months to be consistent with the targeted level have enabled to reduce the policy interest rate. The MPC has prudently considered prolonged uncertainties in foreign investment environment and foreign trade on its decision. Concise minutes of the MPC meeting will be released in two weeks on the Bank of Mongolia’s website.

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