Mongolia to raise policy rate to curb inflation
Uluan Bator - Xinhua
Mongolia's central bank would raise its main policy rate to contain rising inflation, local media said Saturday. The rate will be lifted 0.5 percentage point to 12.75 percent from Monday, Bank of Mongolia (BOM) said in a statement. The statement cited soaring meat and fuel prices, which surged 29.6 percent and 15.6 percent respectively in first two months of the year. The nation's CPI soared to 12.5 percent in February and the figure for Ulan Bator is 13.3 percent, according to statistics released by the National Statistical Office.
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