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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Almaty, October 10 (Xinhua) — The Monetary Policy Committee of the National Bank of Kazakhstan (NBK) has decided to set the base rate at 18 percent per annum with a range of plus or minus 1 percentage point. The regulator's press service reported this on Friday.
Against the backdrop of accelerating inflation, signs of demand exceeding supply expansion, and active fiscal policy, measures must be taken to stabilize inflation dynamics and prevent the risk of an inflationary spiral, the National Bank explained.
According to the National Bank, annual and monthly inflation in September exceeded expectations across all components: acceleration was observed in food, service, and non-food inflation.
At the same time, the National Bank notes accelerated economic growth: from January to August of this year, GDP growth in Kazakhstan amounted to 6.5 percent, compared to 3.7 percent for the same period in 2024. It notes that growth is concentrated in sectors dependent on fiscal expansion and domestic consumption.
The regulator also said that it will continue to closely monitor inflation risks and, if necessary, is ready to consider the possibility of further tightening monetary policy. –0–
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