The National Bank of the Kyrgyz Republic maintained its key interest rate at 12%, keeping monetary conditions tight as inflation slowed but remained above its target. Annual inflation stood at 10.8% as of Oct. 16, down from 12.2% in September, against a target of 5% to 7% over the medium term. Tight monetary conditions and government measures to increase domestic supplies of essential goods helped moderate price growth. External inflation pressures persist, however, as the continuing conflict in the Middle East affects global food and commodity prices. Geopolitical tensions also continue to disrupt international goods transport. Domestic economic growth remained strong, with real gross domestic product rising 10.8% in the first nine months of 2026. Investment, chiefly in construction, and expanding consumption supported by rising real household incomes drove growth. The next scheduled interest rate meeting is Nov. 30, 2026.
National Bank of the Kyrgyz Republic holds key rate at 12% as inflation slows
The National Bank of the Kyrgyz Republic left its key interest rate at 12% as annual inflation declined to 10.8% as of Oct. 16 from 12.2% in September, still above its medium term target of 5% to 7%. Tight monetary conditions and government supply measures helped slow inflation, while global commodity prices and transport disruptions continued to exert pressure. Real gross domestic product grew 10.8% in the first nine months of 2026, and the next rate meeting is scheduled for Nov. 30.