The National Bank of Kazakhstan raised its benchmark base rate by 25 bps to 9.5% on September 13th of 2021, the second consecutive rate increase, and pushing borrowing costs to the highest in a year, aiming to control rising inflation. Kazakhstan’s consumer price inflation edged up to 8.7% in August of 2021, the highest since November of 2016. Inflation is seen at 7.5%-8.5% this year and will likely slow to the target corridor of 4%-6% next year. Meanwhile, policymakers revised GDP growth forecasts to 3.5%-3.8% for 2021 while for 2022, growth forecasts were revised slightly higher to 4.1%-4.4%. source: National Bank of Kazakhstan
Interest Rate in Kazakhstan averaged 21.78 percent from 1992 until 2021, 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 October of 2021.
Interest Rate in Kazakhstan is expected to be 9.50 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 10.25 percent in 2022 and 9.00 percent in 2023, according to our econometric models.