BAKU, Azerbaijan, April 13. Dutch ING (Internationale Nederlanden Groep) expects Kazakhstan to gradually reduce its policy rate in 2023, subsiding to 14.75 percent in 4Q2023, Trend reports, citing ING.
The ING amended its previous projection by increasing the forecasted end-of-the-year policy rate by 1 percent.
The policy rate is expected to remain at the current 16.75 percent level in 2Q2023, with a subsequent drop to 15.75 percent in the third quarter.
The trend is expected to continue in 2024, as the policy rate is anticipated to drop to 13.25 in 1Q2023. A further drop to 12.25 and 11.25 percent will be recorded in 2Q2024 and 3Q2024, according to ING.
End of the year policy rate is expected to drop to 10 percent in 2024, while a further drop to 9 percent is expected to be registered in 4Q2025.