The National Bank of the Kyrgyz Republic’s Board decided to keep the discount rate (key policy rate) unchanged at 11.00%. The decision takes effect from 27 January 2026. The release pointed to continued strong economic momentum, with real gross domestic product rising by 11.1% in 2025, driven mainly by construction and services. Investment activity remained high amid increased investment in fixed capital, largely supported by higher budget financing, while consumer demand was underpinned by higher household cash incomes, a net increase in remittance inflows, and active consumer lending. Annual inflation stood at 9.4% as of 16 January 2026, unchanged from end-December 2025; price dynamics were described as remaining within the central bank’s expectations, with food inflation easing somewhat while non-food goods and services prices stayed elevated due to second-round effects from external factors.
National Bank of the Kyrgz Republic 2026-01-26
National Bank of the Kyrgyz Republic keeps key policy rate at 11.00%
The National Bank of the Kyrgyz Republic maintained its discount rate at 11.00%, effective 27 January 2026, citing strong economic growth and stable inflation at 9.4% as of mid-January. Economic expansion was driven by construction, services, and increased investment, while inflation remained within expectations despite external pressures.