National Bank of Kazakhstan keeps base rate unchanged

Finance Materials 4 March 2019 17:02 (UTC +04:00)

Baku, Azerbaijan, Mar. 4

By Rashid Shirinov – Trend:

The National Bank of Kazakhstan has kept the base rate at the same level, Trend reports via Kazakh media.

"The National Bank of Kazakhstan has decided to keep the base rate at 9.25 percent with an unchanged interest rate band of plus or minus 1 percentage point," the financial regulator said.

Annual inflation continued to decline in February.

"The current level of the base rate contributes to the achievement of inflation targets for 2019," the National Bank added.

Inflation of food products has significantly accelerated (from 5.1 percent in December 2018 to 6.6 percent in February 2019), almost for all commodity items, except for fruits and vegetables.

At the same time, the decline in prices for paid services in the first two months of the year was due to the strengthening of administrative measures to reduce tariffs for services of natural monopolies.

Non-food inflation continues to slow down: it reached 6.2 percent year-on-year in February.


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