Standing committee discusses monetary policy

The Standing Committee on Economics discussed a draft protocol on state monetary policy in 2012 on Tuesday.The proposal intends to keep inflation under ten percent next year, while increasing state salaries and pensions by 53 percent and granting onetime payments of MNT 1 million to the elderly and the disabled.

The president of Mongol Bank told the committee that the bank would increase interest rates and investments because of inflation. He also said that money in saving accounts will not suffer because of inflation.