Ulaanbaatar
Central bank lowers its policy rate to 9 percent
Economy
Ulaanbaatar/MONTSAME/. Today, an irregular meeting of the
Monetary Policy Committee was held, issuing a decision to lower the policy rate
by 1 percentage point, making it 9 percent and allow up to 12-months deferment to borrowers,
who are in trouble to repay their loans.
In consideration of the current macroeconomic and financial
outlook and its prospects, uncertainties and risks in the domestic and external
environment, the Monetary Policy Committee has decided to take the comprehensive
policy measures to lower its policy rate, give one-time loan deferment for up
to 12 months to borrowers, who experience difficulty in their loan repayment, and
lower the amount of monthly loan repayment, with a purpose to stimulate
economy.
