Base rate reduced to 9.25% - the National Bank
The rates for liquidity provision operations are 10.25%, and for liquidity withdrawal operations - 8.25%.
On April 16, the National Bank decided to lower the base rate to 9.25% while maintaining a symmetrical corridor of interest rates at +/-1%. Accordingly, the rates for liquidity provision operations are 10.25%, and for liquidity withdrawal operations 8.25%. It was announced by Chairman of the National Bank Daniyar Akishev in Almaty, BNews.kz correspondent reports.
He noted that the official refinancing rate has also been reduced to the level of 9.25%.
"This is the third reduction in the base rate this year, based on medium-term estimates, suggesting a slowdown in inflation by the end of this year and next year, declining inflation expectations, and maintaining a generally favorable situation in foreign markets," said Akishev.
He added that, despite the observed volatility in the Russian stock and currency markets in the previous week, the influence of the fundamental factors of the external sector in the medium-term period is assessed as positive.
The next decision on the base rate will be announced on June 4, 2018 at 05:00pm (Astana time).