At the meeting held on January 26, the National Bank of the Kyrgyz Republic decided to keep the discount rate at 11%. As of January 16, inflation on a year-on-year basis stabilized at 9.4%.
“Given the persistently high liquidity in the banking sector, the interbank interest rate BIR has settled around 5%,” the experts add.
It is expected that the regulator will maintain the discount rate at 11% until the end of 2026 in order to bring inflation back to the target range of 5-7%,” note the EDB analysts.
Note:
BIR is the interbank benchmark rate in the Kyrgyz Republic, calculated based on actual repo transactions (loans secured by securities) between commercial banks for a term of 7 days in the national currency (som).
This rate serves as a reliable benchmark for financial market participants, reflecting the actual conditions of the short-term money market in the country.
