Kazakh National Bank Cuts Base Rate to 16.75%
The National Bank of Kazakhstan (NBK) lowered its base rate to 16.75%, citing continued easing of inflationary pressures while emphasizing that future monetary policy decisions will remain data-driven.
The NBK’s Monetary Policy Committee reduced the base rate by 25 basis points and maintained an interest rate corridor of ±1 percentage point. According to the central bank, the decision reflects sustained disinflation while preserving sufficiently tight monetary conditions to support the return of inflation to its 5% medium-term target.
NBK Governor Timur Suleimenov said the committee’s decision was based on a comprehensive assessment of macroeconomic forecasts, market developments and independent evaluations by each member of the Monetary Policy Committee.
Suleimenov noted that inflation has continued to moderate for nine consecutive months, but stressed that the central bank is not following a predetermined easing cycle. Instead, future interest rate decisions will depend on incoming data on inflation, domestic demand, fiscal policy and external economic conditions.
Photo credit: The National Bank
