MEARC: MNT appreciation could impact monetary policy

The American Chamber of Commerce in Mongolia

2018-05-28 12:55 GMT+8

Mongolian Economic Analysis and Research Center (MEARC) concluded that the estimated increase of inbound foreign currency could result in the appreciation of the MNT and that the central bank could tighten monetary policy as a result.

With the implementation of the International Monetary Fund’s extended fund facility (EFF) program, the inbound foreign currency will amount to 5.5 billion USD, as reported by Cabinet. Financing under the EFF will reach 836 million USD in 2018. Following the Bank of Mongolia's monetary policy decision in March, the MNT has appreciated by 0.6 percent. The Bank of Mongolia announced that its next monetary policy decision will be issued on June 22.             

 

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