FX.co ★ Kyrgyzstan Holds Key Interest Rate Steady at 9.25%

In its August 2025 meeting, the National Bank of the Kyrgyz Republic opted to maintain the benchmark interest rate at 9.25%, prioritizing price stability alongside facilitating economic growth. As of the year-to-date, inflation was recorded at 5.0%, with an annual rate of 9.4%. This inflation rate was influenced by fluctuations in global food prices, seasonal adjustments in domestic food costs, and changes to electricity tariffs. Despite these inflationary pressures, the economy demonstrated robust growth with real GDP increasing by 11.5% from January to July 2025, fueled by advances in industry, construction, and services sectors. Consumer demand benefitted from rising household incomes, remittance inflows, and enhanced bank lending. The central bank observed that the domestic currency market conditions remained stable, with its monetary policy playing a crucial role in safeguarding purchasing power and balancing liquidity. Policymakers reiterated their dedication to a balanced approach, while also expressing their readiness to take action should risks arise. The subsequent policy evaluation is scheduled for October 27, 2025.