National Bank Lowered Base Rate From 12% To 11%

National Bank Lowered Base Rate From 12% To 11%

The National Bank of Kazakhstan has lowered the base rate from 12% to 11%, reports the press-service of the regulator.

“The National Bank has decided to lower the base rate to 11%, with the corridor +/-1%, said Daniyar Akishev, chairman of the National Bank at the press briefing today, ” reads the message.

Thus, in his words, “the rates on operations with liquidity provision now make 12%, on liquidity withdrawal operations -10%,” the message said.

According to D. Akishev, the bank took into account the impact of internal factors: “It is sustainable world oil prices higher than $50 per barrel, improvement of prospects of the world economic development and moderate inflation background in the states-trade partners”.

“Among internal factors we should indicate considerable slowdown of inflation, reduction of inflation and devaluation expectations, ongoing de-dollarization of banks’ deposits,” he said.

Next decision on the base rate will be announced on April 10 2017.