The National Bank of the Kyrgyz Republic decided to lower the policy rate to 8.00 percent
On July 27, 2015, the Board of the National Bank of the Kyrgyz Republic decided to lower the monetary policy rate by 150 basis points, to 8.00 percent.
Seasonal factor conditioned slowdown of inflation, which come to 5.0 percent in annual term as of the middle of July (as of July 17, 2015) against 11.6 percent as of the beginning of the year.
High economic growth in January-June of 2015 (7.3 percent) was mainly driven by expansion of production at the "Kumtor" gold-mining company. Without "Kumtor", the real GDP growth was 4.4 percent.
In view of forecasted dynamics of inflationary developments, the National Bank of the Kyrgyz Republic continues to monitor the situation in the national economy and will take appropriate measures of monetary policy consistent with statutory mandate. The monetary policy will be aimed at achieving and maintaining the inflation rate at the level of 5-7 percent in the medium term, which is determined by the Main directions of monetary policy guidelines of the National Bank of the Kyrgyz Republic for the medium term.
The next meeting of the Board of the National Bank of the Kyrgyz Republic on the monetary policy rate is scheduled for August 24, 2015.
Licenses/certificates to the following nonbank financial intermediaries and exchange offices have been issued:
1. "SHEISHEN-TATA" LLC (license № 5351 dated July 31, 2015 for carrying out foreign exchange operations in cash). Registration number of the exchange office № 3334. Legal address: 266, Kurmanjan Datka Street, Bishkek city.
2. "Mir Valyut" LLC (license № 5350 dated July 31, 2015 for carrying out foreign exchange operations in cash). Legal address: 38-12, Manas Street, Bishkek city.
It should be noted that the letter of additional exchange office registration № 3332 has been issued to "Ruslan LTD" LLC on July 27, 2015. Legal address: 89, 1a, Fuchika Street, Bishkek city.
Licenses/certificates of the following nonbank financial intermediaries and exchange offices were canceled/revoked:
1. "Uultai-credit" Credit Union (license № 154 dated September 22, 1999 to lend to participants of the Credit Union is revoked due to self-liquidating). Address: 35, Frunze Street, Ozernoe village, Alamudun district, Chui region.
2. Kutmanalieva Dinara Toktogulovna PE (license № 5030 dated July 31, 2012 to carry out exchange operations with foreign currency in cash is revoked due to license expiry). Address: w/n, Sarygulov Street (in the building of the "Koktom" shopping center), Talas city.
3. Gaipov Anvarbek Turgunovich PE (license № 5028 dated July 27, 2012 to carry out exchange operations with foreign currency in cash is revoked due to license expiry). Address: landmark - central gate, "Aibek Bazary" LLC, Asanaliev Street, Kyzyl-Kiya city, Batken region.
4. Zakovat Credit Union (license № 73 dated November 27, 1998 to lend to participants of the credit union is revoked). Address: w/n, Stroitelnaya Street, Isfana village, Lyailyak district, Batken region.