Kyrgyzstan Interest Rate

The National Bank of the Kyrgyz Republic kept its benchmark interest rate at 9% during its January 2025 meeting, maintaining borrowing costs at their lowest level since January 2022 for the eighth consecutive time. This decision reflects stable inflation and ongoing economic recovery. The annual inflation rate was 6.3% in December 2024 and 6.5% as of January 17, 2025, with a medium-term inflation target maintained at 5-7%, influenced by both external conditions and high domestic demand. Meanwhile, economic growth in 2024 reached 9.0%, led by strong performance in services and construction, with domestic demand supported by higher incomes, remittances, and expanded credit. The board will continue to assess economic conditions and adjust its monetary policy if necessary to address risks to price stability. The committee also kept its overnight credit and deposit rates at 11% and 4%, respectively.