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The National Bank kept the rate at 9% — inflation is within normal limits, the economy is growing

Published

04/29/2025, 12:11

The National Bank kept the rate at 9% — inflation is within normal limits, the economy is growing

On April 28, the National Bank of the Kyrgyz Republic decided to keep the key policy rate at 9%. The decision will take effect on April 29, 2025.

According to the regulator, economic activity in the country remains high. In the first quarter of 2025, real GDP growth was 13.1% compared to the same period last year. The main drivers are the service sector, construction, and industry.

Inflation remains within the target range. Since the beginning of the year, consumer prices have risen by 1.96%, with an annual rate of 6.9%. A slowdown in price growth is observed in the non-food segment and services.

At the same time, external risks remain: geopolitical tensions, trade restrictions, and volatility in global markets. In Kyrgyzstan's partner countries, inflation remains high.

The National Bank is continuing its policy of price stability within the range of 5–7% by the end of the year. Liquidity in the banking system remains high, and lending to the real sector continues. The regulator is curbing excess liquidity using its instruments.

It has been decided to keep the rate unchanged, taking into account domestic demand, a possible revision of the tariff policy, and global price volatility. The next meeting on the rate will be held on May 26, 2025.

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