BAKU, Azerbaijan, Jan. 21
By Nargiz Sadikhova – Trend:
Kazakhstan’s National Bank has established a committee on fiscal and monetary policy, Trend reports citing the National Bank.
The committee was created in accordance with the instructions of Kazakhstan’s president given during the message to the people of Kazakhstan.
The committee will oversee making decisions on the base rate, setting remuneration rates for the main operations of monetary policy, and making decisions on other monetary policy issues not related to the exclusive competence of the Board of the National Bank.
In the medium term, the Committee will include independent members who specialize and have extensive experience in macroeconomics and monetary policy.
The creation of the committee is in line with the best practices of inflation targeting countries and will improve the efficiency and transparency of monetary policy decisions.
Follow the author on Twitter: @nargiz_sadikh