ASTANA, Kazakhstan, July 12. The Monetary Policy Committee of the National Bank of Kazakhstan (NBK) recently announced its decision to reduce the base rate by 25 basis points to 14.25 percent, incorporating a corridor of +/- 1 percentage point, Trend reports.
This move follows the NBK's decision on May 31 to cut the base rate to 14.5 percent.
According to the NBK, annual inflation in May and June continued its gradual decline, aligning with the National Bank’s forecasts and staying below their central value. Inflation expectations among the population also decreased after the high levels seen in April.
The National Bank will monitor incoming data, including the core inflation rate and the trajectory of overall inflation as it converges toward the target.
Additionally, the National Bank will maintain moderately tight monetary conditions for an extended period to reinforce the trend of slowing price growth and achieve the inflation target of 5 percent.
The next planned decision of the Monetary Policy Committee of the National Bank of Kazakhstan on the base rate will be announced on August 29, 2024.