The Monetary Policy Committee of Mongol Bank held a meeting on 22 December, during which it was decided to lower the interest rate by one percent, making it 11 percent. Mongol Bank has cut its interest rate twice since January; during 2016 it stood at 15 percent.

The committee explained that the decision was made in the context of  the recovery of Mongolia’s economic indicators. Lower policy interest rates will support small and medium enterprises and help create jobs.