The National Bank of Kazakhstan raised its benchmark overnight policy by 25 bps to 9.25 percent on October 15th, 2018. Policymakers noticed that upside risks to inflation continued to rise due to a recovery in domestic demand and exchange rate volatility, saying they would tighten further if necessary. The inflation continued to increase within the target of 5-7 percent for 2018, edging up to 6.1 percent in September from 6 percent in the prior month, led by a rise in cost of food and non-food products. Interest Rate in Kazakhstan averaged 24.46 percent from 1992 until 2018, reaching an all time high of 300 percent in March of 1994 and a record low of 5.50 percent in August of 2012.
Interest Rate in Kazakhstan is expected to be 9.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Kazakhstan to stand at 9.50 in 12 months time. In the long-term, the Kazakhstan Interest Rate is projected to trend around 9.75 percent in 2020, according to our econometric models.
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