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National Bank of Kazakhstan keeps discount rate

Kazakhstan Materials 3 September 2018 16:20 (UTC +04:00)
The National Bank of Kazakhstan has kept the discount rate at nine percent per annum
National Bank of Kazakhstan keeps discount rate

Baku, Azerbaijan, Sept. 3

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The National Bank of Kazakhstan has kept the discount rate at 9 percent per annum, the bank said in a message Sept. 3.

The rates on operations of providing and withdrawing liquidity have been kept at 10 and 8 percent, respectively, according to the message.

“In line with the updated forecasts, we see the risks of slowing down the inflation reduction rates,” Chairman of the National Bank of Kazakhstan Daniyar Akishev said. “This means that inflation will continue to decrease, but this process will take place more slowly than we estimated earlier. Inflationary pressure from domestic demand, as well as from global economic indicators in a whole, is growing.”

The next decision on the discount rate will be announced on October 15, 2018 at 17:00 (GMT +6).

In June this year, the National Bank of Kazakhstan reduced the discount rate to nine percent from 9.25 percent per annum.

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