Monetary policy committee statement - 2025-06

No: 2025/06 

Date: October 30, 2025 

The Monetary Policy Committee of the Bank of Mongolia held its scheduled meeting on October 30, 2025. This meeting marked the first occasion on which issues related to macroprudential policy were specifically discussed. Going forward, dedicated meetings focusing on macroprudential policy will be organized twice a year. The Bank of Mongolia will continue to implement policies that support the stability of the financial sector through the use of macro-prudential policy instruments.

At this meeting, considering both external and domestic economic outlook as well as potential risks to the banking and financial sectors, the Committee decided not to make any changes to the current macroprudential policy instruments.

According to the systemic risk assessment, the banking sector remains resilient. In light of heightened external uncertainty, safeguarding macroeconomic and financial stability remains essential.

Overall credit growth in the banking sector is decelerating, though it remains at a moderate level. By composition, consumer loan growth has slowed, whereas business loan growth remains robust.

Furthermore, the quality of consumer loans should be closely monitored. Given the ongoing digital transformation of financial markets and the development of the financial sector, the credit information system needs to be further enhanced. Improving the process of collecting, updating, and exchanging credit information among lending institutions will help mitigate credit risks and support financial stability.

The Committee’s subsequent policy actions will depend on developments in the macroeconomic and financial environment.

A summary of the meeting minutes will be published on the Bank of Mongolia’s website within two weeks.

MONETARY POLICY COMMITTEE

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