National Bank of Kazakhstan raises base rate to 14%

ALMATY. April 25 (Interfax) - The National Bank of Kazakhstan has raised the base rate from 13.5% to 14% per annum with an interest rate band of ±1 percentage point, the National Bank said in a press release on Monday.

The standing facilities rates are set at 15% for liquidity provision and at 13% for liquidity withdrawal operations, according to the press release.

"The decision to increase the base rate is underpinned by the National Bank's commitment to adhere to an anti-inflation policy amid the increasing inflation pressure fueled by geopolitical risks, and rising prices in the international markets and in the markets of Kazakhstan's trading partners, which affects the domestic prices," the press release says.