Nat'l Bank of Kazakhstan expectedly retains base rate at 14.25% pa

ASTANA. Aug 29 (Interfax) - The monetary policy committee of the National Bank of Kazakhstan has decided to retain the base rate at 14.25% per annum with a corridor of +/-1 percentage point, the regulator's press service said.

"Inflation accelerated slightly in July, though within the National Bank's forecast. [...] Achieving the 5% inflation target in the medium term requires maintaining moderately tight monetary conditions for an extended period. The balance of risks has shifted toward the pro-inflationary side and sets the high probability of retaining the base rate at the current level until the end of 2024," the bank said.

Analysts surveyed earlier by Interfax forecast that the regulator would keep the rate at 14.25% pa, which has been in the case since mid-July.