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The Financial institution of Mongolia raised the nation’s benchmark fee by 200 foundation factors to 12% on September 20, the fourth this 12 months, for a complete of 600bp of financial tightening. The rise brings the coverage fee to its highest degree since late 2017.
In August, Mongolia registered 14.4% inflation nationally, down from 16.1% in June. Inflation was barely greater in Ulaanbaatar, the capital. The central financial institution estimates that growing import and transportation prices clarify two-thirds of rising value
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