Kyrgyz Republic hikes rates for first time since 2015
Inflation still well below target but climbing fast due to external pressures
The National Bank of the Kyrgyz Republic has made its first rate hike in nearly five years, as the economy strengthens and inflation rises.
The NBKR board chose to increase the policy rate 75 basis points to 5%, the central bank said in a statement today (February 25).
The previous hike was a two-percentage point increase to the policy rate in September 2015. In early 2016, the central bank began a long easing cycle, reaching a low of 4.25% in May 2019.
Price dynamics are now showing
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