National Bank Of Kazakhstan Reduced The Base Rate From 11% To 10.5%

National Bank forecasts risk of inflation growth in October due to situation with fuel in Kazakhstan

Kazakhstan’s central bank said on Monday it cut its key rate to 10.5% from 11%, citing a recovery in the national currency, the tenge KZT=, and lower inflation.

The National Bank chief Daniyar Akishev said the Ban aims to keep its key policy rate 4 percentage points above inflation.

The Bank also said that the undervalued real tenge rate was supporting Kazakhstan’s producers.