Today (15 March), The Bank of Mongolia announced that the bank’s monetary policy council has decided to keep the benchmark interest rate unchanged at 13 percent.

The council made the decision given the current situation and prospects for the economy and financial markets, B.Lkhagvasuren, governor of the Bank of Mongolia.

In mid-December last year, the central bank raised its benchmark interest rate from 12 to 13 percent to stabilize the rate of inflation in the medium term, maintain the relative return of the Mongolian national currency Tugrik and ensure both internal and external balances of the economy.

According to the central bank, Mongolia’s annual inflation rate rose by 12.1 percent year on year in February.