Interest Rate in Kazakhstan
Kazakhstan - Interest Rate
Central Bank maintains the rate at 9.25%
At its 4 March monetary policy meeting, the National Bank of Kazakhstan held the base rate at 9.25%, with an interest rate corridor of plus or minus 1.0 percentage point.
The Bank’s decision to hold the rate steady came against the backdrop of declining inflationary pressures. Inflation slipped to an over three-year low of 4.8% in February from 5.2% in January, remaining within the 4.0%–6.0% target band. Lower fuel costs drove the decline, with some economic slack also contributing to the moderation in prices. While the economy ended 2018 on a solid note, economic activity lost traction at the outset of the year. A downturn in the manufacturing sector amid tougher external conditions, along with a weak construction sector and slowdown in investment, weighed on the reading.
Going forward, growth should continue to be supported by robust domestic demand, shored up by improved credit availability. Meanwhile, inflation should remain within target, with risks mentioned in the Bank’s previous review—namely uncertainty on future oil prices—weighing less on the outlook. Thus, the bank is expected to loosen its stance later on in the year.
The next meeting is scheduled for 15 April.
Kazakhstan Interest Rate Forecast
FocusEconomics panelists see the base rate ending 2019 at 8.95%. Going forward, the Central Bank is expected to continue trimming the interest rate, and our panelists see the rate ending 2020 at 8.38%.
Kazakhstan - Interest Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Policy Interest Rate (%) | 6.50 | 6.50 | 16.00 | 12.00 | 10.25 |
Kazakhstan Interest Rate Chart
Kazakhstan Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 379.2 | 0.32 % | Mar 11 |
| Stock Market | 0.1 | 0.0 % | Mar 11 |
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Economic News
Kazakhstan: Central Bank maintains the rate at 9.25%
March 4, 2019
At its 4 March monetary policy meeting, the National Bank of Kazakhstan held the base rate at 9.25%, with an interest rate corridor of plus or minus 1.0 percentage point. The Bank’s decision to hold the rate steady came against the backdrop of declining inflationary pressures.
Kazakhstan: Inflation falls to the lowest in over three years
March 1, 2019
Consumer prices rose 0.3% over the previous month in February, following a 0.5% month-on-month increase in January.
Kazakhstan: Industrial production growth picks up at the outset of the new year
February 19, 2019
The industrial sector regained some lost ground in January following a marked slowdown in December.
Kazakhstan: Economy maintains a strong pace of expansion in Q4 2018
February 15, 2019
The latest national accounts data revealed that the economy sustained a robust pace of expansion in the final quarter of last year, thanks to a buoyant oil sector and solid non-oil activities.
Kazakhstan: Inflation moderates to more than three-year low in January
February 1, 2019
Consumer prices rose 0.5% over the previous month in January, following a 0.7% month-on-month upturn in December.
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