Kyrgyzstan central bank hikes rates as inflation rises

Bishkek
A view of Bishkek
Almutamid/Wikimedia

Kyrgyzstan’s central bank raised its policy rate for the first time in a year, it announced on February 24, as inflation rose.  

Kyrgyzstan’s currency has been depreciating sharply and the country has been hit by severe political unrest, leading to the election of a new president in January.

The National Bank of the Kyrgyz Republic increased its benchmark rate by 50 basis points, from 5% to 5.5%, its first increase since February 2020.

According to the central bank’s figures, year-on-year

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