Mongolia keeps key rate at 6%

AKIPRESS.COM - Mongolia's central bank decided to keep the benchmark interest rate unchanged at 6 percent on March 24, the central bank said. The decision was made given the current situation and future prospects of the economy and financial market, and external and internal risks, the Bank of Mongolia said in a statement.
In late November, the central bank cut the benchmark interest rate from 8 percent to 6 percent to reduce the negative effects of COVID-19 on the country's economy and the financial sector, as well as the financial burden on its citizens, businesses and financial institutions, Xinhua reports.