The National Bank of Republic of Kazakhstan decided to reduce the base rate to 9.5% with +/- 1% corridor. Before this, the base rate was at 9,75%. This was reported by the press service of the bank.
"Annual inflation is continuing to decelerate in the target corridor in 2018. Inflationary expectations show a downward trend. The short-term interval might be below the 5-7% corridor of annual inflation, but in mid-term inflation will be between 4-6% new target corridor for 2019", - noted in the press service.
As stated by the main bank, taking into account the positive trends and positive estimations of the situation in the foreign markets and trade partner countries, as well as forecasting the growth of Kazakhstan's economy in 2018-2019, the National Bank of the Republic of Kazakhstan will ensure compliance with neutral monetary requirements by 2018 with a gradual reduction of the basic rates.
Recall, earlier the National Bank lowered the base rate from 10,25% to 9,75%.
Translated by Nazerke Syundyukova
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