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Mongolia cuts interest rate by 200 basis points to 12 pct - central bank www.kitco.com
ULAANBAATAR, June 15 (Reuters) - Mongolia has cut benchmark interest rates by 2 percentage points to 12 percent, the country's central bank told Reuters on Thursday.
Mongolia hiked rates by 4.5 percentage points to 15 percent last August in a bid to stabilise its currency, which was in free-fall. It subsequently cut rates by 1 percentage point in December.
The country agreed pm a financial package worth $5.5 billion with the International Monetary Fund last month to help stabilise the Mongolian economy and cut its budget deficit. (Reporting by Terrence Edwards; Editing by Richard Borsuk)
Published Date:2017-06-16
