19 Oct 2009 16:28


ASTANA. Oct 19. (Interfax)- The National Bank intends to keep the inflation within the range of 5% to 8%, the chairman of the National Bank Grigory Marchenko said.

"The monetary and credit policy of the National Bank will be aimed at keeping the inflation at bay," Marchenko said at the parliament faction the Nur Otan's faction in the parliament in Astana on Monday.

"Within the next five years we are setting the goal to maintain the inflation within 5% to 8%," he said.

Marchenko said that "the exchange currency policy of the National Bank will be supporting the balance between the internal and external competitiveness of the Kazakhstan economy," Marchenko said.

"In other words, we will not be overestimating the national currency that may not adversely affect the domestic market under constantly fluctuating conditions," the National Bank said.

The report also reminds that the National Bank's forecast of annualized inflation for the period ending at December 2009 is at 8%-8.5%.

In 2008 inflation was 9.5% and in 2007 - 18.8%.