Kazakh National Bank ready to tighten policy further if inflation persistsThe National Bank of Kazakhstan stated it will continue to closely monitor inflation risks and stands ready to tighten monetary policy further if current measures prove insufficient, the regulator said in a press release on Friday."The National Bank will continue to carefully assess the balance between pro-inflationary and disinflationary factors, as well as the pace and sustainability of the inflation slowdown. Should the current level of monetary restriction prove inadequate to stabilize inflation, the need for additional tightening will be considered," the press release says.National Bank Chairman Timur Suleimenov later added that the regulator is determined and will not hesitate to raise the policy rate if necessary.“Will we tighten further? If necessary, we will. If inflation fails to slow gradually, we will have to raise the rate to maintain moderately tight monetary conditions,” Suleimenov said at a briefing on Friday.He added that the central bank will update its macroeconomic forecasts in November and will make a decision on the policy rate based on new data."In November, we have a forecast round when we fully update our models. By then, we expect to have a more complete picture of the situation, including November data and emerging trends — and perhaps more clarity on the geopolitical front," the head of the National Bank said. (ICE ALMATY)

Fonte notizia: INTERFAX