Bishkek, Oct. 27, 2026 /Kabar/. The National Bank of Kyrgyzstan has maintained its policy rate at 12% per annum. The decision was made by the regulator’s Board on October 26 and takes effect on October 27, 2026.
According to the National Bank, annual inflation in October fell to 10.8%, down from 12.2% in September. Cumulative inflation since the beginning of the year stands at 8.5%.
Price dynamics continue to be influenced by external factors, including shifts in global food and raw material prices against the backdrop of the ongoing conflict in the Middle East. The slowdown in inflation is supported by tight monetary policy conditions and measures taken by the Cabinet of Ministers to ensure the domestic market is well-supplied with socially significant goods.
The National Bank noted that Kyrgyzstan’s economy continues to grow at a rapid pace. In the first nine months of 2026, real Gross Domestic Product (GDP) increased by 10.8%. Key drivers of this growth included investment activity—particularly in the construction sector—rising real household incomes, an expansion in domestic consumption, and tourism-related activity.
"Maintaining the policy rate at 12% is a response to external pro-inflationary risks and is aimed at achieving an inflation target of 5–7% in the medium term," the statement reads. It is noted that the National Bank maintains a balanced approach in the conduct of its monetary policy and continues to assess emerging external and domestic inflationary factors. Should any risks to price stability arise, the National Bank does not rule out the possibility of making adjustments to its ongoing monetary policy.
