Mongolia's central bank cuts benchmark interest rate to 11 pct

ULAN BATOR, May 13 (Xinhua) -- Mongolia's central bank announced on Monday the decision to cut its benchmark interest rate to 11 percent.

"After taking into account the current and future state of the economy and financial markets, and external risks to the economy, the monetary policy council of the central bank made the decision to cut the benchmark interest rate by 1 percent to 11 percent," the Bank of Mongol