Kazakhstan's National Bank Revises Base Rate
Date
8/29/2024 5:18:37 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, August 29. The National
Bank of Kazakhstan has decided to keep the base rate at 14.25
percent per annum with a corridor of +/- 1 p.p., Trend reports.
The regulator notes that inflation in July 2024 slightly
increased but remained within the National Bank's forecast range.
Monthly inflation and its core component showed a significant
acceleration.
“Achieving the five percent inflation target in the medium term
will require maintaining moderately tight monetary conditions for
an extended period. The balance of risks has shifted towards higher
inflation, suggesting a high likelihood that the base rate will
remain at the current level until the end of 2024,” the statement
notes.
It's worth noting that the base rate was reduced from 14.5
percent to 14.25 percent on July 12, 2024.
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