National Bank of Kazakhstan expectedly retains base rate at 16.5% pa

ASTANA. July 11 (Interfax) - The Monetary Policy Committee of the National Bank of Kazakhstan has decided to retain the base rate at 16.5% per annum with a corridor of plus or minus 1 percentage point, the National Bank said.

The national bank's decision is in line with the forecasts of analysts interviewed by Interfax.

"The current balance of inflation factors, the dynamics of its current rates, as well as pro-inflationary trends and the ongoing uncertainty in the external environment determine the high probability of [the National Bank] maintaining the base rate at the current level until the end of 2025. Meantime, the Monetary Policy Committee does not rule out the possibility of raising the base rate if necessary," according to the statement.