Today the Monetary Policy Committee (MPC) of the Bank of Mongolia (BoM) decided to cut the monetary policy rate to 10.5 percent.
N.Zoljargal, Governor of BoM stated that monetary policy rate lowered to 10.5% due to inflation, foreign trade and balance of payments are still showing positive changes this year. As of March, annual inflation rate expressed by consumer price pointed at 1.7%, which remains still less than its target level, 7%.
Policy rate will affect differently in all sectors. The result will be showed after a long period or 6-8 months later. However banks` funding cost will be declined.
Today the Monetary Policy Committee (MPC) of the Bank of Mongolia (BoM) decided to cut the monetary policy rate to 10.5 percent.
N.Zoljargal, Governor of BoM stated that monetary policy rate lowered to 10.5% due to inflation, foreign trade and balance of payments are still showing positive changes this year. As of March, annual inflation rate expressed by consumer price pointed at 1.7%, which remains still less than its target level, 7%.
Policy rate will affect differently in all sectors. The result will be showed after a long period or 6-8 months later. However banks` funding cost will be declined.