BISHKEK, Kyrgyzstan, February 24. The Board of the National Bank of Kyrgyzstan (NBK) has decided to raise the discount (key policy) rate by 100 basis points to 12%, effective February 24, 2026, Trend reports via the press service of the NBK.
The external economic landscape is currently varied, marked by
increased uncertainty. The global food markets are witnessing a
steady deceleration in price increases for essential commodities,
yet inflation levels in Kyrgyzstan's primary trading partner
nations continue to be high.
With imports playing a major role in the consumer basket, domestic
prices remain highly responsive to fluctuations in external
conditions. The future of price movements hinges significantly on
the strength of global supply chains and trade flows, which are
currently navigating challenges posed by geopolitical tensions and
the ongoing fragmentation of the global economy.
Given these circumstances, it is essential to adopt a careful
strategy for monetary policy to maintain price stability in
Kyrgyzstan.
Inflation in Kyrgyzstan since the beginning of 2026 stood at 1.8% as of February 13 (9.6% year-on-year). Overall price dynamics remain within the expected trajectory, while uneven trends persist across the main components of the consumer basket. Food prices are showing moderate growth due to the stabilization of prices for certain products.
At the same time, elevated price dynamics continue in the services sector and for non-food goods, reflecting both secondary effects from external conditions and strengthening domestic demand factors.
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