Kyrgyzstan Interest Rate2022 Data - 2011-2021 Historical - 2023 Forecast - Calendar

The National Bank of Kyrgyz Republic kept its benchmark interest at 14 percent during its July meeting, amid favorable domestic conditions and efforts to minimize possible risks from external situations. The country's GDP expanded 6.3% yoy in H1 of the year, as all sectors rose, namely, industry, services, and construction. Meantime, credit growth was robust, with the volume of newly issued loans jumping 16.2% during February to May. Policymakers vowed to continue monitoring the current economic development, adding they will take appropriate measures to achieve price stability in the medium term. The central bank also kept its overnight credit and deposit rates at 16 percent and 12 percent, respectively.

The National Bank of Kyrgyz Republic kept its benchmark interest at 14 percent during its May meeting, amid moderating inflation and uncertainty in global conditions. The annual inflation eased to 13.8 percent in April from 14.5 percent in March, due to the relative stabilization of the situation in world food markets. Meanwhile, the GDP expanded by 5.4 percent year-on-year in the first four months of the year, rebounding sharply from a 3 percent contraction in the same period 2021, amid further recovery in economic sectors. The Committee added that they will continue to monitor of external and internal factors and takes appropriate monetary policy measures to ensure that inflation remains within the target in the medium term. The central bank also left its overnight credit and deposit rates at 16 percent and 12 percent, respectively.

The National Bank of Kyrgyz Republic left its benchmark interest at 14 percent during its April meeting, amid rising inflation and escalating tensions in Ukraine. The decision came after the central bank raised the rate by 400bps in March, which was the fourth of its kind since October last year. The annual inflation rate was 14.3 percent in April 2022, boosted by an increase in food and fuel prices. Meanwhile, the GDP grew by 4.5 percent year-on-year in the first quarter of the year, largely due to the recovery of economic sectors, mainly in the industrial, service and agricultural sectors, after declining in early 2021. The central bank also kept its overnight credit and deposit rates at 16 percent and 12 percent, respectively. The Committee added that they will continue to regularly assess the impact of external and internal factors on inflation and takes appropriate monetary policy measures depending on the economic situation.