Ulaanbaatar
Monetary Policy Statement
Economy
Ulaanbaatar, March 15 2023 /MONTSAME/. The Monetary Policy Committee of the Bank of Mongolia (MPC)
held its scheduled meetings on March 14 and 15, 2023. Taking into consideration
current state of the economy and financial markets as well as outlook and risks
to the domestic and external economic environment, the MPC decided to:
1. Keep the policy interest rate at 13%;
2. Narrow the policy rate corridor to be set as 1 percentage points above and
below the policy rate and;
3. Exclude certain bank liabilities with maturities of at least 360 days and more that are newly funded on international markets in the
form of bonds or loans from required
reserve liabilities.
Annual
inflation reached 12.2 percent nationwide and 12.1 percent in Ulaanbaatar city
as of February 2023.
