National Bank Of Kyrgyzstan Lowers Refinancing Rate

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, April 30. The board of theNational Bank of Kyrgyzstan has decided to lower its refinancingrate from 13 to 11 percent, effective from April 30, 2024, Trend reports.

The bank notes a weakening trend in inflationary processes inthe country. In April 2024, the annual inflation rate stood at 5.2percent, down from 7.3 percent in December 2023, nearing the lowerbound of the medium-term target range of monetary policy of 5-7percent.

At the same time, Kyrgyzstan is witnessing a period of higheconomic activity, with real GDP growth reaching 8.8 percent forthe period January through March 2024.

Despite ongoing uncertainty in the external economicenvironment, there is a diminishing impact of external factors onthe country. The stability of the banking sector in Kyrgyzstan wasalso emphasized.

In response to potential additional risks, the National Bankremains open to adjusting its monetary policy. The next scheduledmeeting of the National Bank's Board regarding the discount rate isset for May 27, 2024.

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