Bank of Mongolia launches ‘interest rate corridor’
The Bank of Mongolia has introduced a new 'interest rate corridor' in a bid to increase the effectiveness of its monetary policy, the central bank said in a statement published today.
To create the 'corridor', the central bank simultaneously launched two new monetary policy instruments: overnight repo and overnight deposit facilities. The repo rate is set at two percentage points above the policy rate, and the deposit rate at two percentage points below.
"Establishing the interest rate corridor
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