National Bank of Kyrgyzstan holds policy rate at 14%

BISHKEK. Nov 2 (Interfax) - The National Bank of Kyrgyzstan's management board has decided to hold the key policy rate at 14% per annum, the regulator said in a statement, posted on its website.

The National Bank said annual inflation had slowed to 14.9% as of October 21, from 15.5% in September. Consumer price growth is essentially non-monetary and reflects the impact of the global food and energy market as well as Kyrgyzstan's high exposure to imports.

GDP grew 7.2% in real terms in January-September 2022, partly from a low base last year. Growth was highest in industry, agriculture and services.

The next decision on the policy rate will be made on November 28, 2022, but the regulator is prepared to hold an extraordinary meeting if necessary.