National Bank of Kazakhstan lowers base rate to 15.5% per annumThe Monetary Policy Committee of Kazakhstan’s National Bank has reduced the base rate to 15.25% per annum with an interest rate band of ±1 p.p, the regulator’s press service said in a Friday press release."The annual inflation came in at a single-digit rate by the end of 2023. The December inflation was slightly above the historical average. The external inflation processes remain favorable, which is also supported by decreasing global food prices and the restrictive policies of the central banks. Inflationary pressure still persists in the domestic economy on the back of a stable domestic demand, which is supported by fiscal stimuli, as well as high and inconsistent inflation expectations,” the press release says.In November 2023, the National Bank lowered the base rate from 16% to 15.75% per annum with an interest rate band of ±1 p.p. as the annual inflation had been decreasing towards the end of 2023. Last year the National Bank lowered the base rate three times. The base rate had been at 16.75% from December 6, 2022 until July 5, 2023 and lowered to 16.5% in August 2023 and to 16% in October 2023.The next decision on the base rate will be announced by the National Bank on February 23, 2024 at 12 pm Astana time. (ICE ALMATY)

Fonte notizia: INTERFAX