The National Bank of Mongolia kept its benchmark policy rate at 6% during an unscheduled meeting on June 23rd, 2021, to continue supporting the economy hurt by the coronavirus pandemic. The Bank noted that inflation quickened to 6.2% in May, driven by economic recovery and also attributed to underlying effects and temporary supply factors; and it is expected to increase slightly in the coming months, but will stabilize around the target from 2022. Policymakers also decided to increase the amount of long-term refinancing to support SMEs and non-mining exports by MNT 250 billion in the third quarter of 2021. source: Mongolbank
Interest Rate in Mongolia averaged 11.55 percent from 2007 until 2020, reaching an all time high of 15 percent in August of 2016 and a record low of 6 percent in November of 2020. 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 August of 2021.
Interest Rate in Mongolia is expected to be 6.00 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 6.25 in 12 months time. In the long-term, the Mongolia Interest Rate is projected to trend around 7.00 percent in 2022, according to our econometric models.