The Board of the National Bank decided to keep the discount rate (key rate) at 9%. The decision comes into effect from November 26, 2024.

The decision is due to the stable inflationary environment in the country. Annual inflation in November amounted to 5.2%, down from 7.3% at the beginning of the year and within the medium-term target range (5-7%). Despite increased domestic demand and the impact of tariff policy, the rate of price growth for food and non-food products is slowing down.

Economic activity in Kyrgyzstan remains high due to the dynamic development of construction and services. Real GDP growth for the first 10 months of 2024 amounted to 9.6%. The growth is due to an increase in household incomes, higher real wages and remittance inflows. There is also an increase in investment, mainly from domestic sources.