December 4, 2011 on: Economical

Mongolia's central bank will tighten monetary policy to curb the country's inflation, Xinhua informed.

Parliament had scaled down the original budget plan for 2012 by 900 billion Mongolian tugriks (about 692 million U.S. dollars). This could help reduce the country's inflation by 2 percentage points, said Purevdorj. But the Mongol Bank needed to continue a tight monetary policy as the parliamentary move could not rein in the runaway inflation. Mongolia's fiscal policy has been highly expansionary in recent years, which caused wide concerns over overheating of the country's economy. Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.

SOURCE OF THIS ARTICLE : Focus Information Agency

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