Speaker of Parliament Sandag Byambatsogt Visits the Bank of Mongolia

Speaker of the State Great Khural (Parliament) of Mongolia, Sandag Byambatsogt, visited the Bank of Mongolia today /19 May 2026/, accompanied by several Members of Parliament and other officials, and held a meeting to discuss the current economic and financial conditions as well as future policy directions.

The meeting was attended by Member of Parliament and Chair of the Standing Committee on State Structure B. Javkhlan, Member of Parliament and Chair of the Standing Committee on Economics R. Seddorj, and Members of Parliament B. Uyanga, B. Punsalmaa, and S. Erdenebat.

At the beginning of the meeting, the Bank of Mongolia delivered a presentation on the current economic situation, future outlook, and potential risks. It was highlighted that inflation has mainly been driven by supply-side factors, particularly increases in the prices of meat, vegetables, and fuel. The Bank also noted that geopolitical uncertainty in the Middle East has been exerting pressure on fuel and transportation costs and affecting the global economy.

Subsequently, Governor of the Bank of Mongolia S. Narantsogt provided information on the monetary policy measures implemented by the central bank, their outcomes, and the Bank's strategic and operational reforms. He also informed participants that amendments to the Law on the Bank and the Central Bank Law are currently being prepared.

Participants further noted that the preliminary agreement reached with the People's Bank of China to extend the maturity of the bilateral swap agreement, improve its conditions, and reduce the interest rate constituted an important achievement in terms of external relations and financial stability. In addition, Member of Parliament B. Javkhlan emphasized that the Bank of Mongolia had played a significant role in the recent improvements to Mongolia's sovereign credit rating and expressed his appreciation.

At the conclusion of the meeting, Speaker of Parliament Sandag Byambatsogt noted that reducing lending interest rates and increasing access to mortgage loans remain among the public's key expectations. He also emphasized the need to pay attention to issues such as the effectiveness of restrictions on consumer lending, the rapid growth of high-interest non-bank financial institution loans, and the waiting list for mortgage financing. Furthermore, he instructed relevant authorities to explore the possibility of including detached houses with completed infrastructure connections in the mortgage loan program and to develop near-term solutions on related matters.