Interest Rate in Kazakhstan
Kazakhstan - Interest Rate
Central Bank keeps base rate on hold at 9.25% in December
At its 4 December monetary policy meeting, the National Bank of Kazakhstan left the base rate at 9.25%, with an interest rate corridor of plus or minus 1.0 percentage point, after the rate was raised to its current level from 9.00% in its October meeting.
A slowdown in inflation going into the fourth quarter, coupled with well-anchored inflation expectations, motivated the Central Bank to keep the key interest rate on hold. Inflation fell from 6.1% in September to 5.3% in October and November, edging closer to the lower limit of the Bank’s 5.0%–7.0% target band, owing to a seasonal drop in the prices for food and fuel, along with reduced tariffs on regulated services. While inflation is expected to remain within target, the primary risk to the inflation outlook likely stems from uncertainty around future oil prices and the tendency towards a rise in inflation in the country’s main trading partners. This comes against the backdrop of firm economic activity, thanks to higher oil prices and buoyant demand supported by strong credit growth and rising incomes.
In terms of forward guidance, the Bank is expected to maintain a neutral stance going into next year to keep inflation within the revised target corridor of 4.0%–6.0%. The next monetary policy meeting is scheduled for 14 January.
FocusEconomics panelists see the base rate ending 2019 at 8.83%. 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 | 379.3 | 0.32 % | Jan 14 |
| Stock Market | 0.1 | 0.0 % | Jan 14 |
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Economic News
Kazakhstan: Inflation remains stable for the third consecutive month in December
January 3, 2019
Consumer prices rose 0.7% over the previous month in December, after a 0.9% month-on-month increase in November.
Kazakhstan: Growth edges down in the third quarter
December 29, 2018
A detailed breakdown of GDP by expenditure confirmed that the economy lost some steam in the second half of the year, growing 4.1% year-on-year in January–September, following a 4.2% expansion in January–June.
Kazakhstan: Industrial production growth continues to lose steam in November
December 17, 2018
The industrial sector continued to lose pace in November, with output growing at a weaker annual pace of 2.3% in the month, following a 4.2% year-on-year expansion in October. Looking at a breakdown of the sub-sectors, the deterioration in November was primarily due to a marked slowdown in the manufacturing sector—which grew at the slowest pace since October 2016—and a swing from expansion to contraction in the water supply, sewerage system and waste management sector.
Kazakhstan: Central Bank keeps base rate on hold at 9.25% in December
December 4, 2018
At its 4 December monetary policy meeting, the National Bank of Kazakhstan left the base rate at 9.25%, with an interest rate corridor of plus or minus 1.0 percentage point, after the rate was raised to its current level from 9.00% in its October meeting.
Kazakhstan: Inflation remains stable in November
December 4, 2018
Consumer prices increased 0.9% over the previous month in November, following a 0.4% month-on-month rise in October.
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