(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 26. The
Committee on Monetary Policy of the National Bank of Kazakhstan has
announced its decision to keep the base rate unchanged at 16.75
percent, trend reports.
This decision comes following a comprehensive review
of the National Bank's updated forecasts, data analysis, and a
careful assessment of inflation risks.
In Kazakhstan, there is persistent inflationary
pressure due to ongoing fiscal stimulus, sustained domestic demand,
high and unstable inflation expectations, as well as the increase
in prices of petroleum products and the anticipated rise in tariffs
for housing and communal services.
As noted, the annual inflation in Kazakhstan continued
its downward trend in April 2023, reaching 16.8 percent. Notably,
the deceleration was most prominent in the food component of
inflation. However, the decline in annual inflation was offset by
price increases in non-food items, which slightly accelerated due
to the rising cost of petroleum products.
Meanwhile, the monthly inflation rate remained at 0.9
percent, persistently higher than historical averages. However,
since September 2022, both the core and seasonally adjusted
inflation measures have been declining, indicating a gradual
weakening of the persistent inflationary pressures.
MENAFN26052023000187011040ID1106321335
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.