ASTANA, Kazakhstan, January 19. The Monetary Policy Committee of the National Bank of Kazakhstan (NBK) recently announced its decision to reduce the base rate by 50 basis points to 15.25 percent, incorporating a corridor of +/- 1 percentage point, Trend reports.
This move follows the NBK's decision on November 24 to decrease the base rate by 25 basis points to 15.75 percent.
The NBK highlighted that annual inflation had reached single-digit levels by the close of 2023. While monthly inflation in December slightly exceeded the historical average, external inflation pressure is gradually diminishing, attributed to the contractionary policies of central banks and a decline in world food prices.
Looking ahead, the NBK stated that future base rate decisions will be contingent upon whether the actual dynamics of inflation align with the predicted trajectory.
"The imperative to achieve the 5 percent inflation target necessitates maintaining moderately tight monetary conditions in the medium term," the NBK added.