ING expects Kazakhstan to decrease policy interest rate

Kazakhstan Materials 9 February 2023 18:40 (UTC +04:00)
Emin Sevdimaliyev
Emin Sevdimaliyev
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BAKU, Azerbaijan, February 9. Dutch ING (Internationale Nederlanden Groep) predicts that Kazakhstan will start reducing its policy interest rate in 2023, and expects the indicator to reach drop to 11.75 percent in 4Q2023, Trend reports, citing the ING

The policy interest rate is expected to drop to 16.25 percent in 1Q23, from the current 16.75 percent.

The gradual decrease will continue throughout the year, with drops to 14.25 and 12.25 percent in 2Q2023 and 3Q2023 respectively.

By the end of 2024, the policy interest rate is forecasted to be reduced to 9.25 percent.

Meanwhile, the decrease is expected to slow down in 2025. The ING experts predict that the policy interest rate will drop to 9 percent in 4Q2025.

The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services.