The National Bank of Kazakhstan raised its benchmark base rate by 25 bps to 9.25 percent on July 26th of 2021, aiming to avoid the unwinding of an inflationary spiral. Policymakers said the decision was mainly based on realized supply-side inflationary risks and sustained pressure from the demand side, which was causing inflation to form above forecasts. The bank noted the rapid economic recovery and a significant fiscal stimulus formed a pro-inflationary trend. In June, consumer prices climbed 7.9% from a year earlier, mostly lifted by food prices, which resumed an upward trend seen also in neighbouring countries. The economy rose 2.2% from a year earlier in the first half of 2021 amid easing quarantine restrictions and rising commodity prices. Looking forward, the central bank sees inflation remaining above the target range by the end of 2021 and will continue to adjust the benchmark base rate and tighten monetary conditions in order to control price pressures. source: National Bank of Kazakhstan
Interest Rate in Kazakhstan averaged 21.96 percent from 1992 until 2021, reaching an all time high of 300 percent in March of 1994 and a record low of 5.50 percent in August of 2012. This page provides the latest reported value for - Kazakhstan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Kazakhstan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Interest Rate in Kazakhstan is expected to be 9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Kazakhstan Interest Rate is projected to trend around 9.00 percent in 2022, according to our econometric models.