Public Discussion Held on the Draft Monetary Policy Guidelines for 2026

The Bank of Mongolia has publicly presented and discussed the draft Monetary Policy Guidelines for 2026.

The open discussion brought together a wide range of participants, including representatives from key economic policymaking government institutions, academics and researchers from universities, economists, international organizations, and members of the business community, who actively shared their views and insights.

During the event, the Bank of Mongolia, the Fiscal Stability Council, and the Ministry of Economy and Development delivered presentations on several key topics, including “Monetary, Fiscal and Macroprudential Policy”, “Monetary Policy Guidelines for 2026”, “Mongolia’s Macroeconomic Environment: Challenges and Solutions”, and the “2026 Economic Outlook”.

Speakers highlighted that, amid heightened global geopolitical tensions, geo-economic fragmentation, and ongoing trade disputes, maintaining macroeconomic stability, preventing potential downturns, and strengthening economic resilience remain critical policy priorities. Domestically, rapid credit growth among non-bank financial institutions and the increasing number of individuals with multiple outstanding loans were noted as emerging risks to financial stability.

To sustain stable economic growth and protect citizens’ real income, the Bank of Mongolia aims to maintain its inflation target at 6 percent in the medium term, with plans to gradually reduce it to 5 percent (+/-2 percentage point interval starting from 2027).

In addition, the Bank of Mongolia will continue implementing measures to ensure the stability of the banking sector by diversifying banks’ capital structures and aligning prudential indicators with international standards. The monetary policy framework also includes steps to update anti-money laundering and counter-terrorism financing policies, alongside initiatives to enhance public financial and economic literacy.

In line with legal requirements, the Bank of Mongolia submits the draft Monetary Policy Guidelines to the State Great Khural (Parliament) annually by October 1st. Since 2017, the Bank has consistently organized open public discussions to present the draft policy and engage with stakeholders.