National Bank raise accounting rate up to 15.41%
The National Bank of Kyrgyzstan raised accounting rate up to 15.41 percent since last week when it was 15.09 percent, official website of the bank reported.
During the past 2 months the rate slowly decreased from its maximum of 15.9 fixed in late October 2008.
According to the NB's deputy chairman Abdybaly tegin Suerkul, rising of the accounting rate since mid May 2008 is caused by excessive liquidity of Kyrgyz banks. "We managed to control it only in October," the deputy chairman said.
Decrease of the accounting rate is impossible unless the National Bank makes certain that the inflation is slowing down, reported 24.kg.
However, the experts are generally skeptic about the accounting rate increase. Kyrgyz bank behaves quite paradoxical, when all central banks around the world decrease the accounting rates, we raise it.