The National Bank of Mongolia lowered its benchmark policy rate to 10 percent from 11 percent during its March meeting, saying the spread of Covid-19 have emerged the risk of aggravating the slowdown in economic growth due to weaker external demand, lower commodity prices, and sluggish external and domestic economic activities. The Bank also cut the reserve requirement on banks’ liabilities in togrog by 2 percentage points to 8.5 percent, while it changed the range of interest rate corridor to be +1, -1 percentage points from the policy rate.
Interest Rate in Mongolia averaged 11.72 percent from 2007 until 2020, reaching an all time high of 15 percent in August of 2016 and a record low of 6.40 percent in July of 2007. This page provides the latest reported value for - Mongolia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mongolia Interest Rate - values, historical data and charts - was last updated on April of 2020.
Interest Rate in Mongolia is expected to be 10.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Mongolia to stand at 10.00 in 12 months time. In the long-term, the Mongolia Interest Rate is projected to trend around 11.00 percent in 2021, according to our econometric models.