Kazakh National bank reduces base rate

 Kazakh National bank reduces base rate

The National Bank of Kazakhstan decided to reduce the base rate from 9.75% to 9.5% with a +/- 1% corridor, the press-service of the financial controller said in a message . 

The report says that annual inflation continues to decelerate within the target range for 2018 and inflationary expectations demonstrate the decreasing tendency. "In the short-term period there are risks that the inflation might undershoot the lower boundary of the target range of 5-7%, however in the medium-term it will remain within the new target range 4-6% for 2019," the report adds.

Considering the favorable tendencies and the positive estimates regarding the development perspectives of the situation in the foreign markets and in the countries-main trade partners, and also the expectations regarding the continuing economic growth of Kazakhstan in 2018-2019, in 2018 the National Bank of Kazakhstan will continue the policy of the gradual reduction of the base rate, yet ensuring maintenance of the monetary conditions.

The next decision on the base rate will be announced on April 16, 2018 at 17:00 Astana time.