Central Bank of Mongolia raises policy interest rate to 12% The Central Bank of Mongolia has announced its Monetary Policy Council’s decision to increase the bank’s policy interest rate by 1.5%, an increase to 12%. The policy interest rate has been at 10.5% since June 2013. The Governor of the Central Bank, explained that the Bank of Mongolia took the measure in order to reduce the counterbalance losses, maintain medium and long term economic stability, avoid further possible risks facing the Mongolian macro economy, protect the public’s real incomes and to prevent the inflation rate from increasing.
Posted on: Sat, 02 Aug 2014 10:03:42 +0000
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