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Kyrgyzstan's central bank cuts main interest rate to 8.0 pct

Published 2015-07-28, 01:35 a/m
Kyrgyzstan's central bank cuts main interest rate to 8.0 pct
CG
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BISHKEK, July 28 (Reuters) - The National Bank of Kyrgyzstan
said on Tuesday it was lowering its main interest rate to 8.0
percent from 9.5 percent, following a seasonal decrease in
consumer prices in the Central Asian nation.
Annual inflation dropped to 5.0 percent as of July 17 from
11.6 percent at the start of the year, the central bank said.
The country's gross domestic product expanded by 7.3 percent
year on year in the first half of 2015, the bank said. Without
taking into account the flagship gold venture with Canada's
Centerra Gold CG.TO , GDP would have grown by 4.4 percent in
annual terms in January-June, it said.
The central bank's monetary policy aims to achieve and
maintain inflation of between 5 and 7 percent in the medium
term.

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