The Central Bank of Kazakhstan has kept the interest rate unchanged for the fifth meeting in a row, moving closer to easing monetary policy for the first time since 2020.
Bloomberg News reported that the central bank kept the interest rate at 16.75% on Wednesday.
The bank’s statement said that a “cautious cut” of the interest rate is likely to be on the table for policymakers ‘ discussions at the bank’s meeting scheduled for next August.
In a statement today, policymakers stressed that the decision to maintain the interest rate is aimed at keeping rates at a “feasible” level to gradually reduce inflation to 5% in the medium term.
It is noteworthy that inflation fell to 14.6% last June, where it fell for the fourth month after reaching the highest level last February, recording more than 21%.
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