FX.co ★ Kyrgyzstan Holds Key Rate Steady

The National Bank of the Kyrgyz Republic has opted to maintain its benchmark interest rate at 9% during its policy meeting in July 2025. This decision keeps borrowing costs at their lowest since January 2022. In June 2025, the country's annual inflation rate was steady at 8%, unchanged from May. This figure represents the highest since November 2023 and slightly exceeds the central bank's target inflation range of 5-7%. The Kyrgyz economy showed robust growth, achieving an impressive 11.7% year-on-year increase in the first half of 2025, predominantly driven by the services sector. The banking sector remains stable and well-capitalized, with credit to the economy increasing by 9% during the same timeframe. The National Bank continues to vigilantly monitor both domestic and international factors influencing inflation. In light of ongoing external risks, the Bank maintains a cautious and balanced approach to its monetary policy.