The National Bank of Kazakhstan kept its benchmark base rate at 9.25 percent on March 4th, 2019, as widely expected. Policymakers noted that annual inflation continued to decline in February (4.8 percent from 5.2 percent in January) although inflationary risks persist. Inflation is seen at 4 percent-6 percent in 2019. Policymakers added that concerns related to the deterioration of the external environment appeared less likely to materialise, as Brent oil price is above $65 per barrel, compared to the below $55 per barrel in the second half of December 2018. Interest Rate in Kazakhstan averaged 24.12 percent from 1992 until 2019, 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 9.75 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.