National Bank of Kazakhstan raises base rate to 16%, more than forecast

ASTANA. Oct 26 (Interfax) - The National Bank of Kazakhstan has increased the base rate from 14.5% to 16% per annum within an interest rate band of ±1 p.p., the regulator's press office said.

Rate for standing facilities rates are set at 17% for liquidity provision and at 15% for liquidity withdrawal operations.

Analysts surveyed by Interfax expected the base rate to be raised to no more than 15.5%.

This is the fifth rate hike this year. The rate had been 14.5% since July 26, when it was raised from 14%.