Kyrgyz central bank raises rates 150 basis points
Central bank cites “geopolitical risks”, though high inflation was problem long before war
The board of the central bank of Kyrgyzstan raised the policy rate 150 basis points on February 28, to 10%.
In its official statement, the National Bank of the Kyrgyz Republic cited “geopolitical risks”, almost certainly referring to the Russian invasion of Ukraine.
However, high inflation has been a persistent feature of the Kyrgyz economy for most of the past two years. The central bank has been steadily tightening monetary policy since February 2021.
The NBKR increased its policy rate four
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