The regulator notes that the moderately tight monetary conditions will help lower inflation closer to the lower limit of the 10-12% forecast range by the end of 2023 and stabilize it at the target level of 5% in the medium term."The National Bank will closely monitor the trajectory of annual inflation as it moves toward the target to respond promptly to any deviations," the regulator said.The National Bank notes that economic growth is in line with their expectations. From January to August 2023, Kazakhstan's GDP grew by 4.9% year-on-year. This growth is driven by strong domestic demand, infrastructure projects, and a rebound in the oil industry. The key drivers of economic growth are construction, trade, industry, and information and communications sectors.The National Bank of Kazakhstan will announce its next decision on the base rate on November 24, 2023, at 12:00 Astana time.In August, the National Bank reduced the base rate from 16.75% to 16.5% annually, with a range of +/- 1 percentage point. The rate of 16.75% had been in effect since December 6, 2022, and remained unchanged following scheduled reviews in January, February, April, May, and July. (ICE ALMATY)

Fonte notizia: INTERFAX