BAKU, Azerbaijan, October 27. The National Bank
of the Kyrgyz Republic has kept its policy rate unchanged at 12%,
with the decision taking effect on October 27, according to the
bank.
Annual inflation in Kyrgyzstan slowed to 10.8% in October 2026,
down from 12.2% in September. Cumulative inflation since the
beginning of the year reached 8.5%.
The bank attributed the slowdown to tight monetary conditions
maintained by the regulator and government measures to increase
domestic supplies of socially significant goods. At the same time,
external factors, including price movements in global food and raw
material markets amid the ongoing conflict in the Middle East,
continue to exert inflationary pressure.
Kyrgyzstan’s economy grew by 10.8% in real terms in
January-September 2026. Growth was supported by strong investment
activity, primarily in construction, expanding domestic consumption
amid rising real household incomes, tourism and major international
events held in the country.
The National Bank said it would continue to use monetary policy
instruments to regulate the money supply and limit monetary
inflationary pressures. Short-term money market interest rates,
including the interbank market rate BIR, remain within the
established interest rate corridor and close to the policy rate.
The domestic foreign exchange market remains stable, according to
the regulator.
Furthermore, the bank said it had maintained the rate at 12%
amid persistent geopolitical tensions, volatility in global energy
and food prices, and disruptions to international logistics. The
decision is aimed at achieving the medium-term inflation target of
5-7%.
The regulator will continue to assess domestic and external
inflationary factors and may adjust monetary policy if risks to
price stability emerge.
The next scheduled meeting of the National Bank’s Council to
review the policy rate is set for November 30, 2026.
