Kazakh National Bank reduces refinancing rate
Azerbaijan, Baku, Feb. 14 / Trend E. Kosolapova/
Kazakh National Bank reduced the refinancing rate from 7.5 percent to 7 percent per annum, Novosti-Kazakhstan reports with reference to the bank.
"The board of the Kazakh National Bank decided to set refinancing rate at 7 percent per annum on Feb.14, 2012 due to the trends in financial markets and slowdown of annual inflation," the bank said.
According to the Bank, this refinancing rate is historically minimum.
Last time the official refinancing rate in Kazakhstan was changed in March 2011. It was increased from 7 percent to 7.5 percent per annum at that time.
Inflation in Kazakhstan hits 7.4 percent in 2011.