The head of the Kazakh National Bank, Kairat Kelimbetov, believes that the introduction of a free floating tenge rate will help to ensure that banks will return to active credit activity.
"We really hope that banks will resume giving active loans in the near future, and the transition to inflation targeting will also contribute to this," he said.
Earlier, Prime Minister Karim Masimov announced that the country has cancelled the currency corridor and has moved to the free rate of tenge, Trend reports.
