National Bank of Kazakhstan to keep inflation at 5%-8% in 2015, 5-7% in 2016-2018
ASTANA. Dec 22 (Interfax) - The National Bank of Kazakhstan plans to keep inflation in the range of 5%-8% in 2105 and 5%-7% in 2016-2018, according to the strategic plan for 2014-2018 approved by President on December 15, 2014 and published on Monday.
The main objective of Kazakhstan's monetary policy is to ensure stable prices, which is possible if the annual inflation is kept in the range of 6-8%.
According to the National Bank, in 2015-2018 the official refinancing rate can be changed in the same range as inflation does.
The refinancing rate in Kazakhstan has been 5.5% per annum since August 2012.
The annual inflation rate through the ten months ended November 31, 2014 is at 6.9%, with prices for foodstuffs climbing by 6.9%, non-food products by 7.8% and services by 6.1%.
In 2013, inflation stood at 4.8% in Kazakhstan.