FX.co ★ Kyrgyz Central Bank Holds Rate at 12%

The National Bank of the Kyrgyz Republic kept its benchmark interest rate unchanged at 12.0% on August 24, 2026, marking the fourth consecutive meeting with no change and maintaining tight monetary conditions to curb persistent inflationary pressures. Since the beginning of 2026, consumer prices have increased by 7.3%, bringing annual inflation to 11.7%, largely driven by higher fuel and food prices amid global commodity market volatility and ongoing geopolitical tensions. At the same time, economic activity remained strong: real GDP grew by 11.1% year-on-year in January–July, supported by robust investment, especially in construction, and resilient domestic consumption. The central bank noted that maintaining tight monetary policy is still necessary to contain external inflationary pressures and foster a steady decline in inflation, while emphasizing its readiness to adjust policy if risks to price stability intensify. The next policy meeting is scheduled for October 26.