ASTANA, Kazakhstan, November 24. The Monetary Policy Committee of the National Bank of Kazakhstan (NBK) has decided to reduce the base rate by 25 basis points to 15.75 percent with a corridor of +/- 1 percentage point, the NBK said, Trend reports.
On October 6, the NBK decided to reduce the base rate by 50 basis points to 16 percent.
According to the NBK, annual inflation continues to slow down dynamically. The indicator is expected to move into the single-digit zone in the coming months. Monthly inflation in October slowed to average historical values.
External inflationary pressures continue to ease in the face of central bank contractionary policies and falling global food prices. However, there are some aspects and concerns that must be considered.
According to the NBK, future base rate decisions will be based on whether the actual dynamics of inflation match the predicted trajectory.
"The need to achieve the 5 percent inflation target requires maintaining moderately tight monetary conditions in the medium term," the NBK added.