Kazakh National Bank reduces base rate
Baku, Azerbaijan, Nov. 14
By Elena Kosolapova – Trend:
The National Bank of Kazakhstan reduced the base rate to 12 percent with a corridor of +/- 1 percent since Nov. 14, said the bank’s message.
The base rate has amounted to 12.5 since early Oct. Earlier, the rate stood at 13 percent.
“This reduction was due to the downward dynamics of inflation, continuing pace of de-dollarization of the bank deposits and reduced inflation expectations,” the bank said.
Further reducing of the base rate will be possible in case of significant improvement of the economic situation and persistent signs of stabilization of the situation in the financial market.
The next decision on the base rate will be announced on January 9, 2017.
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