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SECTION NEWS

Kyrgyzstan's National Bank lowers bank rate to 5.5 percent to stimulate economy

29/11/16 08:08, Bishkek – 24.kg news agency, by Tatyana KUDRYAVTSEVA

The National Bank of Kyrgyzstan has lowered the bank rate to 5.5 percent to stimulate the economy. The Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov told today at a press conference.

He noted that the regular meeting of the Board of the National Bank took place the day before. It was decided to lower the size of the bank rate by 0.5 percent that is connected with the state of the economy.

The general price level is reducing. In November, there was registered a deflation of 0.7 percent in annual terms. In the third quarter, the main index of economic activity moved into a positive phase.

For 10 months, real GDP grew by 2.7 percent. Without Kumtor, the figure was 3.3 percent. 

"There is some recovery in domestic consumption. These factors will have a moderate impact on the formation of inflation in future periods," Tolkunbek Abdygulov said.

The National Bank noted that it intended in the coming period to follow stimulating monetary policy in the absence of external shocks. 


URL: http://eng.24.kg/economics/182864-news24.html
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Exchange rate from 4 February
National Bank of Kyrgyz Republic
USD 69.4463
EUR 74.6131
RUB 1.1708
KZT 0.2156
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Weighted average exchange rate of som on February 3
USD 69.4300


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«When we ran in the elections, we said that would even get the moon and the sun from the sky ».
MP Kamchybek Joldoshbayev at a meeting of Parliament, February 2, 2017.

«What have you done besides sale of donkeys to China?».
Deputy Ryskeldi Mombekov to the head of State Inspectorate for Veterinary and Phytosanitary Safety Kalysbek Zhumakanov at a meeting of Parliament, February 1, 2017.
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