The National Bank of Kazakhstan decided to leave its benchmark interest rate unchanged at 14.00% on June 6th of 2022, following a 50 bps rate hike at its previous meeting. Still, policymakers said that the current level of interest rates already reflected the current balance of inflation risks in the short and medium-term. Bankers expect the inflation will gradually slow down by 2024; as a result of it the policy normalization will happen in 2023. By the end of 2022 inflation is projected at 13-15% and 7.5 -9.5% in 2023. Additionally, the central bank noted that Kazakhstan's economy grew at 4.4% in the January-April period of 2022, but overall year growth will be lower between 2.8-3.8%. Policymakers forecast an acceleration of economic growth in 2023, projecting a 3.5%-4.5% increase in the country's GDP. source: National Bank of Kazakhstan
Interest Rate in Kazakhstan averaged 21.48 percent from 1992 until 2022, 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 2022.
Interest Rate in Kazakhstan is expected to be 14.00 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 9.25 percent in 2023 and 7.50 percent in 2024, according to our econometric models.