Situation on exchange market in Kyrgyzstan is stable – Abdygulov

Bishkek, Feb. 26, 2019. /Kabar/. The situation in the domestic foreign exchange market of Kyrgyzstan is generally stable and does not create significant risks, Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov told at a press conference at the Kabar News Agency.

He said that the forecasts for the development of economies of the countries-trade partners of Kyrgyzstan and the emerging domestic economic conditions make it possible to expect the preservation of positive trends in the short and medium term.

“According to the National Bank's forecasts, in the absence of shocks, in the medium term inflation will not exceed the monetary policy target of 5-7%. Under these conditions, it has been decided to reduce the discount rate (to 4.5%). In case of occurrence of inflation risks, the National Bank may consider the possibility of adjusting the current direction of monetary policy,” he explained.

Abdygulov noted that the National Bank regularly assesses external and internal factors influencing inflation and, depending on the economic situation, will take appropriate monetary policy measures.