ULAN BATOR, June 25 (Xinhua) -- The Monetary Policy Committee of the Bank of Mongolia has decided to maintain the benchmark interest rate at 12 percent, the central bank said on Wednesday.
The decision was made after considering both domestic and external economic conditions and associated risks, the Bank of Mongolia said in a statement. The bank noted that although recent developments have been broadly positive and global oil prices have declined, geopolitical tensions and uncertainties have not yet fully stabilized.
The decision is consistent with the central bank's objective of maintaining inflation at 5 percent within a tolerance band of ±2 percentage points from 2027 onward. It is also aimed at supporting macroeconomic stability over the medium term.
The Bank of Mongolia raised its policy rate by 2 percentage points to 12 percent in March 2025. The benchmark rate has remained unchanged since then.
According to the central bank, Mongolia's inflation, as measured by the consumer price index, stood at 11.2 percent at the end of May. ■
