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National Bank of Kazakhstan increases base rate

Kazakhstan 24 January 2022 15:13
National Bank of Kazakhstan increases base rate

BAKU, Azerbaijan, Jan. 24

Trend:

The Committee on Monetary Policy of the National Bank of the Republic of Kazakhstan has decided to set the base rate at 10.25 percent per annum with an interest rate collar of +/- 1.00 percentage points, Trend reports citing Kazakhstan’s National Bank.

Accordingly, the rate on constant access for liquidity provision will amount to 11.25 percent, and on constant access for liquidity withdrawal – to 9.25 percent.

The decision has been made considering the need to reduce inflation expectations and bring inflation into the set target corridor of 4-6 percent by the end of 2022. In most of the world’s economies, including the main trading partners of Kazakhstan, inflation keeps remaining at elevated levels. Domestic conditions, despite the existence of disinflationary processes in recent months, are characterized by the presence of significant pro-inflationary risks on both the demand and supply sides.

The next planning decision of the Monetary Policy Committee of Kazakhstan’s National Bank on the base rate will be announced on March 9, 2022 at 15:00 Nur-Sultan time.

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