Kyrgyzstan raises rates again after lull

Bishkek
Almutamid/Wikimedia

The National Bank of the Kyrgyz Republic decided to raise the policy rate by 50 basis points to 8% on November 29. This marks the fourth rate hike of 2021, but the first since July.

The central bank has raised the benchmark rate by 300bp over the course of 2021, and 425bp since early 2020.

The NBKR cited high inflation in making its decision. According to its figures, year-on-year inflation reached 12.1% in November 2021, and prices have risen 9.5% since January.  Though figures also show

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