The National Bank of Kyrgyzstan left the discount rate at 12% for the fifth time in a row. The last time it was raised was in February 2026, from 11% to 12%, when inflation rose above 9%. Now inflation has slowed to 10.8% - in September it was 12.2%. There is progress, but the goal of 5-7% is still far away. At the same time, for 9 months, GDP grew by 10.8%, which also pushes inflation. That is, the regulator sees that the prices are slowing down, but still not enough to relax and start lowering the rate.

The National Bank of Kyrgyzstan left the discount rate at 12% for the fifth time in a row. The last time it was raised was in February 2026, from 11% to 12%, when inflation rose above 9%. Now inflation has slowed to 10.8% - in September it was 12.2%. There is progress, but the goal of 5-7% is still far away. At the same time, for 9 months, GDP grew by 10.8%, which also pushes inflation. That is, the regulator sees that the prices are slowing down, but still not enough to relax and start lowering the rate.