The previous rate was 9.25%.
| Date | Discount Rate, % | Overnight Loan, % | Overnight Deposit, % |
| 28.10.2025 | 10.00 | 12.00 | 4.00 |
| 26.08.2025 | 9.25 | 11.25 | 4.00 |
| 29.07.2025 | 9.25 | 11.25 | 4.00 |
| 27.05.2025 | 9.00 | 11.00 | 4.00 |
| 29.04.2025 | 9.00 | 11.00 | 4.00 |
| 25.02.2025 | 9.00 | 11.00 | 4.00 |
| 28.01.2025 | 9.00 | 11.00 | 4.00 |
| 26.11.2024 | 9.00 | 11.00 | 4.00 |
| 29.10.2024 | 9.00 | 11.00 | 4.00 |
As reported by the regulator's press service, the growth of Kyrgyzstan's economy is supported by increased consumer and investment activity. In the first nine months of 2025, real GDP grew by 10%.
Since the beginning of 2025, inflation in Kyrgyzstan has reached 6.2%, while on an annual basis it stands at 8.4%.
In the structure of the consumer price index, there is a change in inflationary factors, where the influence of food products is shifting towards non-food products, which is related to changes in the international economic situation.
The level of inflation is affected by restrictions on the supply of energy resources from abroad, as well as rising costs in certain service sectors, while high consumer demand remains.
Investments in fixed capital in the country have increased, mainly due to the expansion of domestic funding sources, which in turn has contributed to the growth of the construction sector. Increased household incomes, including due to active fiscal policy and growth in remittances, also remain key factors supporting domestic demand.
Monetary policy, in general, supports macroeconomic stability. The domestic currency market remains stable, and interest rates provide a balance between the attractiveness of savings and the availability of loans.
The banking sector of the country demonstrates resilience to external risks and has a high level of liquidity in the national currency, creating favorable conditions for the expansion of lending.
However, the external environment remains uncertain due to geopolitical risks associated with changes in global trade rules, leading to price volatility in energy resources and food, affecting domestic prices.
Nevertheless, the impact of high consumer demand and the planned revision of tariff policy on the level of inflation is assessed as moderate. Currently, external factors create instability for the inflation trajectory in the country, requiring a more cautious approach to monetary policy.
Considering the assessment of internal and external inflation factors, as well as the forward-looking monetary policy of the National Bank, the discount rate has been raised to 10%. This decision is aimed at shaping price dynamics in the medium term within the target range of 5-7%.
