Mongolia holds interest rate at 10%

The Bank of Mongolia stated on Tuesday that it decided to maintain its benchmark interest rate at 10 per cent.

The Mongolian central bank said the decision was made after assessing the economy, financial markets, and external risks to stabilise inflation and ensure economic and financial stability in the medium term.

The Bank of Mongolia lowered the benchmark interest rate by 1 percentage point to 10 per cent in September 2024 and opted to keep it unchanged in December.

Attribution: Xinhua

Subediting: Y.Yasser