BAKU, Azerbaijan, October 27. The National Bank of the Kyrgyz Republic has kept its policy rate unchanged at 12%, with the decision taking effect on October 27, according to the bank.
Annual inflation in Kyrgyzstan slowed to 10.8% in October 2026, down from 12.2% in September. Cumulative inflation since the beginning of the year reached 8.5%.
The bank attributed the slowdown to tight monetary conditions maintained by the regulator and government measures to increase domestic supplies of socially significant goods. At the same time, external factors, including price movements in global food and raw material markets amid the ongoing conflict in the Middle East, continue to exert inflationary pressure.
Kyrgyzstan’s economy grew by 10.8% in real terms in January-September 2026. Growth was supported by strong investment activity, primarily in construction, expanding domestic consumption amid rising real household incomes, tourism and major international events held in the country.
The National Bank said it would continue to use monetary policy instruments to regulate the money supply and limit monetary inflationary pressures. Short-term money market interest rates, including the interbank market rate BIR, remain within the established interest rate corridor and close to the policy rate. The domestic foreign exchange market remains stable, according to the regulator.
Furthermore, the bank said it had maintained the rate at 12% amid persistent geopolitical tensions, volatility in global energy and food prices, and disruptions to international logistics. The decision is aimed at achieving the medium-term inflation target of 5-7%.
The regulator will continue to assess domestic and external inflationary factors and may adjust monetary policy if risks to price stability emerge.
The next scheduled meeting of the National Bank’s Council to review the policy rate is set for November 30, 2026.
