Kyrgyzstan keeps key interest rate at 12% as inflation slows
The National Bank of the Kyrgyz Republic has kept its key interest rate at 12% amid ongoing inflationary pressures and global economic uncertainty. The decision was made on October 26 and took effect on October 27, 2026, Qazinform News Agency cites the bank’s press service.
Annual inflation slowed to 10.8% in October, down from 12.2% in September, while cumulative inflation since the beginning of the year reached 8.5%, according to the central bank.
The regulator attributed inflationary pressures to fluctuations in global food and raw material prices amid the ongoing conflict in the Middle East. However, tight monetary policy and government measures to ensure sufficient supplies of essential goods have helped slow price growth.
Meanwhile, Kyrgyzstan’s economy expanded by 10.8% in real terms during the first nine months of 2026. Growth was driven by strong investment, particularly in construction, rising domestic consumption, tourism, and major international events.
The central bank said maintaining the key rate would help limit inflationary pressures and support its medium-term target of bringing inflation within the 5-7% range. It added that monetary policy could be adjusted if risks to price stability increase.
The next scheduled meeting to review the key interest rate will take place on November 30, 2026.
Earlier, Qazinform reported Kyrgyzstan’s foreign trade rose 13.3% to 12 billion US dollars in the first eight months of 2026.