Monetary Policy Rate Remains Unchanged

The Monetary Policy Committee of the Bank of Mongolia held its regular meeting and decided to maintain the policy interest rate at 12%. The country’s annual inflation rate stands at 8.8%, while in Ulaanbaatar, it is 9.8%. Since February of this year, inflation has gradually slowed due to a series of tightened monetary and financial policies. However, in August, the prices of meat, vegetables, and flour saw relatively significant increases, contributing to a rise in food inflation compared to the previous month. The Bank of Mongolia projects that inflation will continue to decrease gradually and expects it to fall within the target range by 2026.