ULAN BATOR, Dec. 13 (Xinhua) -- Mongolia's central bank, the Bank of Mongolia, announced on Friday that it would maintain its benchmark interest rate unchanged at 10 percent.
"This decision was made after evaluating the current and projected state of the economy, financial markets, and external economic risks," the central bank said in a statement.
The move is aimed at stabilizing inflation at the target level and ensuring economic and financial stability over the medium term, the statement added.
In September, the central bank had reduced the benchmark interest rate by 1 percentage point to the current 10 percent.
As of November, Mongolia's inflation rate, measured by the consumer price index, stood at 8.1 percent. This marks a 0.5 percentage point decrease compared to the same period last year but a 1.1 percentage point rise from October, according to the bank.
Mongolia has set a medium-term target to stabilize inflation at around 6 percent. ■
