Mongolia’s Central Bank decided today (17 September) to leave the benchmark interest rate unchanged at 11 percent for the second time in the year to bolster the economy. The decision aims to cope with the inflation target framework in the fixed term, to bolster economic growth as well as to maintain macro-economic and financial stability. The policy interest rate was increased to 11 percent in November 2018.

As for August, 2019, inflation stood at 8.9 percent; an increase of 1.2 percent from July; this was due to the increase in the price of flour and meat combined with the annual burden of university and other educational fees.