Kazakhstan's National Bank lowers base rate

Kazakhstan's National Bank lowers base rate

Baku. TurkicWorld:

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 14.75 percent, incorporating a corridor of +/- 1 percentage point, TurkicWorld reports.

This move follows the NBK's decision on January 19 to decrease the base rate by 50 basis points to 15.25 percent.

As the NBK noted, in the current environment, the space for easing monetary policy is significantly limited. The current balance of inflation factors, the dynamics of its current (monthly) rates and the uncertainty of fiscal policy parameters determine a high probability of maintaining the base rate at the achieved level within the framework of the nearest decisions.

"A positive factor for the reduction in the base rate was the noticeably lower inflation expectations of the population in January, the slowdown of which has been observed for the third month in a row," the NBK noted.