The Monetary Policy Committee of the Central Bank of Mongolia  decided today (13 April) to cut its policy rates by one percentage point to 9 percent. In addition, the bank will postpone loan repayments for borrowers facing difficulties due to the coronavirus disruption for up to 12 months.

Annual inflation stood at 6.4 percent nationwide in February; in the capital, Ulaanbaatar, it was 6.9 percent. Mongolia’s economic growth has slowed and inflation is increasing increased as demand falls.