Bank of Mongolia imposes ceiling on the debt-to-income ratio - News.MN

Bank of Mongolia imposes ceiling on the debt-to-income ratio

Old News! Published on: 2018.06.18

Bank of Mongolia imposes ceiling on the debt-to-income ratio

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The Monetary Policy Committee of the Bank of Mongolia has discussed policy interest rates and a ceiling on the debt-to-income ratio for consumer loans. The committee made a decision to keep the policy interest rate at 10 percent and impose a 70-percent ceiling on the debt-to-income ratio of consumer loans.

As of May 2018, annual inflation measured by the consumer price index was 6.1 percent nationwide and 6.6 percent in Ulaanbaatar. Economic activity will continue to grow whilst inflation is expected to stabilise at the targeted level of 8 percent in the medium-term.

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