Kyrgyzstan's Central Bank Holds Rate at 12% Amid 10.8% GDP Growth

The Board of the National Bank of Kyrgyzstan on October 26 decided to hold the base rate at 12% per annum. The decision took effect on October 27, 2026.

According to the National Bank, annual inflation in October declined to 10.8% from 12.2% in September. Cumulative inflation from the start of the year stood at 8.5%.

Price dynamics continue to be influenced by external factors — in particular, shifts in global food and commodity prices against the backdrop of the ongoing conflict in the Middle East. The slowdown in inflation has been supported by tight monetary policy conditions and measures by the cabinet of ministers to saturate the domestic market with socially significant goods.

Kyrgyzstan's economy continues to expand at a robust pace: over the first nine months of 2026, real GDP grew by 10.8%. Key growth drivers have been investment activity — primarily in the construction sector — rising real incomes, expansion of domestic consumption, and tourism activity.

"Maintaining the base rate at 12% is a response to external inflationary risks and is aimed at achieving the target inflation rate of 5–7% in the medium term," the regulator said in a statement.

The National Bank noted that in the event of risks to price stability, it does not rule out adjustments to monetary policy.