BISHKEK, July 30 (Xinhua) -- The National Bank of Kyrgyzstan has decided to keep the key rate at 9 percent, the bank said in a statement on Tuesday.
"Taking into account the volatility of prices in the global food and raw materials markets, the planned revision of the state tariff policy, in order to further reduce inflation expectations of the population, it seems necessary to maintain the National Bank's key rate at 9 percent," it said.
Positive consumption and investment activity of economic entities led to an 8.1-percent GDP growth in the first half of 2024. A significant increase in the construction and services sectors also explained the growth. Meanwhile, the country's banking sector remained stable and highly liquid, with a 9-percent growth in lending.
Inflation in Kyrgyzstan has remained at moderate levels since May of this year amid a slowdown in the growth rate of prices for food products and the impact of the seasonal factor of price dynamics. The annual inflation rate in July stood at 4.2 percent. ■
