Interest Rate in Kazakhstan
Kazakhstan - Interest Rate
Central Bank stays put in July
At its latest monetary policy meeting on 15 July, the National Bank of Kazakhstan held the base rate at 9.00%, with an interest rate corridor of plus or minus 1.0 percentage point.
Within-target inflation and relatively low inflation expectations prompted the Bank to stay put. Inflation ticked up to 5.4% in June from 5.3% in May, largely reflecting a faster increase in food costs. In addition, upside risks to inflation stemming from volatile commodity prices and buoyant domestic demand limited the room for a rate cut, despite growth dynamics showing signs of weakness in the second quarter.
The communiqué was devoid of substantive forward guidance and only indicated that future decisions will be guided by the Bank’s inflation projections, which currently see inflation hovering around the upper bound of the 4.0%–6.0% target band. The Bank did, however, note that a global slowdown poses upside risks to the inflation outlook. FocusEconomics panelists see the rate being slashed again before year-end, in line with the easing trend seen in the world’s largest economies.
The next meeting is scheduled for 9 September 2019.
FocusEconomics panelists see the base rate ending 2019 at 8.83%. Looking ahead, the Central Bank is expected to continue trimming the interest rate, and our panelists see the rate ending 2020 at 8.35%.
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 | 384.4 | 0.32 % | Jul 31 |
| Stock Market | 0.1 | 0.0 % | Jul 22 |
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Economic News
Kazakhstan: Industrial production slows in July
August 15, 2019
Industrial production grew 3.2% in July, down from June’s 5.9% which had marked an over-year high.
Kazakhstan: Inflation steady in July
August 1, 2019
Consumer prices rose 0.2% over the previous month in July, matching June’s result.
Kazakhstan: Central Bank stays put in July
July 15, 2019
At its latest monetary policy meeting on 15 July, the National Bank of Kazakhstan held the base rate at 9.00%, with an interest rate corridor of plus or minus 1.0 percentage point.
Kazakhstan: Industrial sector grows at the fastest pace in 13-months in June
July 15, 2019
Industrial production grew 5.9% in June, the highest reading in over a year and rebounding from May’s 1.6% contraction.
Kazakhstan: Growth decelerates in January–March on weaker external demand
July 15, 2019
A breakdown of GDP by expenditure released by Kazakhstan’s Statistical Institute (SARK) confirmed that the economy grew 3.8% year-on-year in January–March, decelerating from the 4.1% expansion recorded in January–December 2018. Ebbing global momentum and volatility in commodity markets appear to have taken its toll on the external sector.
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