BAKU, Azerbaijan, March 13. Dutch ING (Internationale Nederlanden Groep) predicts that Kazakhstan will start reducing its policy interest rate in 2023, and expects the indicator to reach a drop to 13.75 in 4Q2023, Trend reports, citing the ING.
The ING amended its previous projection by increasing the forecasted end-of-the-year policy rate by 2 percent.
The policy rate is expected to remain at the current 16.75 percent level in 1Q2023, while a drop to 15.75 is projected to take place sometime in 2Q2023. The trend is expected to resume in 3Q2023 when the policy rate is predicted to decrease further to 13.75 percent.
ING expects the policy rate to continue its drop in 2024, reaching 9.5 percent in 4Q2024, with a further drop to 9 percent predicted to take place by the end of 2025.
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.