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Kazakhstan refinancing rate unchanged at 7.5 pct

Business Materials 6 July 2011 13:13
Kazakhstan's central bank on Tuesday said the official refinancing rate would remain unchanged at 7.5 percent, effective from July 1.
Kazakhstan refinancing rate unchanged at 7.5 pct

Kazakhstan's central bank on Tuesday said the official refinancing rate would remain unchanged at 7.5 percent, effective from July 1, Reuters reported.

The bank raised its key rate by 50 basis points in March, the first change in the rate in 18 months, saying that the move was designed to curb accelerating inflation.

The bank also said at the time that it could consider raising its full-year inflation forecast for Central Asia's largest economy from the current 6-8 percent range.

Inflation in Kazakhstan slowed to 0.3 percent in June on a month-on-month basis from 0.5 percent in May. Consumer prices grew by 0.2 percent in June last year.

The inflation rate for the first half of this year was 5.1 percent, compared to 4.4 percent in the same period of 2010.

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