CENTRAL BANK LOWERS ITS POLICY RATE TO 9 PERCENT

Today, an irregular meeting of the Monetary Policy Committee was held, issuing a decision to lower the policy rate by 1 percentage point, making it 9 percent and allow up to 12-months deferment to borrowers, who are in trouble to repay their loans.    

In consideration of the current macroeconomic and financial outlook and its prospects, uncertainties and risks in the domestic and external environment, the Monetary Policy Committee has decided to take the comprehensive policy measures to lower its policy rate, give one-time loan deferment for up to 12 months to borrowers, who experience difficulty in their loan repayment, and lower the amount of monthly loan repayment, with a purpose to stimulate economy.

Source: https://montsame.mn/en/read/221986