Kyrgyz National Bank reduced the discount rate to 9.5%

Almaty. May 26. Silkroadnews - Kyrgyz National Bank lowered the discount rate by 150 basis points to 9.5%, reported the press service of financial regulator.
As of mid-May, the annual inflation rate fell to 6.4% from 10.5% for the end of 2014. High rates of economic growth in January-April 2015 (7%) were due to increased production at plants of deposit "Kumtor". The pace of real GDP growth excluding "Kumtor" amounted to 3.7% (in January-April 2014 - 4.2%).
"Given the downside risks to domestic and external demand, as well as the dynamics of inflation, the National Bank of the Kyrgyz Republic will continue to monitor the situation in the economy and in accordance with the certain powers will be taking the necessary measures of monetary policy, including the promotion of economic growth" , - the report says.
Thus, monetary policy will focus on achieving and maintaining the medium-term inflation rate of 5-7%, which defines the main directions of monetary policy of the National Bank of the Kyrgyz Republic in the medium term.