Kazakhstan Maintains Monetary Policy Rate Amid Rising Inflation Concerns

10/11/2024 5:10:23 AM

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, October 11. The National Bank of Kazakhstan has decided to keep the monetary policy rate at 14.25 percent per annum, with a corridor of +/- 1 percentage point, Trend reports.

"Annual inflation has continued its slow decline in August and September, following a rise in July. Monthly inflation remains above historical averages and the levels seen in spring and early summer.

While the persistent component of inflation is decreasing, it's not happening quickly enough. In September, inflation expectations among the public increased," the National Bank reported.

Annual inflation ended up being higher than expected, reaching 8.3 percent, while inflation for September was recorded at 0.4 percent.

Meanwhile, Kazakhstan lowered the rate by 50 basis points to 14.75 percent in February this year, before further reducing it to 14.25 percent in July.

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