Kazakhstan's National Bank Lowers Base Rate
Date
2/23/2024 2:10:38 AM
(MENAFN- Trend News Agency) ASTANA, Kazakhstan, February 23. The Monetary
Policy Committee of the National bank of Kazakhstan (NBK) recently
announced its decision to reduce the base rate by 50 basis points
to 14.75 percent, incorporating a corridor of +/- 1 percentage
point, Trend reports.
This move follows the NBK's decision on January 19 to decrease
the base rate by 50 basis points to 15.25 percent.
As the NBK noted, in the current environment, the space for
easing monetary policy is significantly limited. The current
balance of inflation factors, the dynamics of its current (monthly)
rates and the uncertainty of fiscal policy parameters determine a
high probability of maintaining the base rate at the achieved level
within the framework of the nearest decisions.
"A positive factor for the reduction in the base rate was the
noticeably lower inflation expectations of the population in
January, the slowdown of which has been observed for the third
month in a row," the NBK noted.
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