15.01.2018, 19:47 3285

Kazakhstan National Bank lowered a base rate to 9,75%

For the first time from the moment of introduction of a base rate its level has reached unambiguous size.
The national bank has made the decision to lower a base rate to 9,75% with a symmetric corridor of fluctuations of +/-1%. The chairman of the financial regulator Daniar Akishev told about it, BNews.kz reported.

The head of the National Bank has noted that rates on operations of providing liquidity to banks are 10,75%, and on operations of withdrawal of liquidity – 8,75%. For the first time from the moment of introduction of a base rate its level has reached unambiguous size.

Still a year ago the base rate was 12%. The decision on its decrease is caused by positive results of 2017 and expectations of favorable development of an economic situation this year. It confirms confidence of National Bank in preservation of inflation within a new target corridor of 5-7% in 2018 and in gradual achievement of the medium-term purpose in 4% in 2020. We pass from a stage of crisis management in the monetary market to the period of restoration and strengthening of effectiveness of channels of the transmission mechanism of monetary policy on achievement of ultimate goals on inflation," Akishev told.


He has noted that the National bank of Kazakhstan doesn't exclude further decrease in a base rate.

Mitigation of monetary policy will continue if terms of trade and a situation in the countries – trade partners remain positive, trends which promoted improvement of a situation in economy of Kazakhstan in 2017 will proceed both in the current year, and in general expected and actual dynamics of inflation will correspond each other," he concluded.



Photo: News Agency BNews

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