Integrated Sensing and Communication (ISAC) is considered one of the crucial technologies in the upcoming sixth-generation (6G) mobile communication systems that could facilitate ultra-precise positioning of passive and active targets and extremely high data rates through spectrum coexistence and hardware sharing. Such an ISAC network offers a lot of benefits, but comes with the challenge of managing the mutual interference between the sensing and communication services. In this paper, we investigate the problem of localization accuracy in a monostatic ISAC network under consideration of inter-BS interference due to communication signal and sensing echoes, and self-interference at the respective BS. We propose a power allocation algorithm that minimizes BS's maximum range estimate error while considering minimum communication signal-to-interference-plus-noise ratio (SINR) and total power constraint. Our numerical results demonstrate the effectiveness of the proposed algorithm and indicate that it can enhance the sensing performance when the self-interference is effectively suppressed.