12:39 - 24.11.2023

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November 24, Fineko/abc.az. The base rate in Kazakhstan has been reduced to 15.75%, ABC.AZ reports with reference to the National Bank of Kazakhstan.

“The Monetary Policy Committee of the National Bank of the Republic of Kazakhstan decided to reduce the base rate to 15.75% per annum with a corridor of +/– 1 percentage point. The decision was made based on updated forecasts of the National Bank, data analysis and assessment of the balance of inflation risks,” the financial regulator said in a statement.

On October 6, the National Bank of Kazakhstan decided to reduce the base rate from 16.5% to 16% per annum.

The annual inflation continues to slow down rapidly. Monthly inflation in October slowed to average historical values.

“At the same time, there are certain factors and risks that require attention. Pro-inflationary pressure remains in the domestic economy from fiscal stimulus, stable domestic demand, high and unstable inflation expectations,” the report notes.

The National Bank clarified that the inflation forecast for 2023 has been improved to 9.3-10.3%.