The Monetary Policy Committee of the National Bank of Kazakhstan has announced its decision to maintain the base rate at 15.25% per annum, with an interest rate corridor of +/- 1 percentage point. This decision reflects the ongoing economic conditions and the central bank’s strategy to address inflationary pressures while balancing economic growth.
In December 2024, Kazakhstan’s inflation rose to 8.6%, staying within the forecast range of 8-9% for the year. The main drivers of this inflation include:
The next scheduled meeting of the Monetary Policy Committee is set for March 7, 2025, at 12:00 PM Astana time. This announcement will likely provide further guidance on the central bank’s response to evolving economic conditions and inflation dynamics.
By maintaining the base rate at 15.25%, the National Bank of Kazakhstan underscores its commitment to stabilizing inflation and safeguarding economic resilience. The decision balances inflation management with the need to support long-term growth amidst challenging global and domestic economic conditions.
Article is prepared by Ekaterina Kassumova,
Director of FChain Kazakhstan
28th of January 2025