The National Bank of Kazakhstan raised its benchmark interest rate by 50 bps to 10.25% on January 24th of 2022, against market expectations that monetary policy would remain unchanged. It is the highest interest rate since March of 2020, as the central bank said higher government spending was exacerbating inflationary pressures at the expense of the value of the national currency. Kazakhstan’s consumer price inflation eased for a second month in a row to a five-month low of 8.4% in December of 2021, contrasting with the upward trend seen in core inflation, which various estimates see it above the target corridor. Looking ahead, policymakers predict the national inflation rate should continue to moderate to the 6.0%-6.5% range in 2022 amid tighter monetary policies and other measures. source: National Bank of Kazakhstan

Interest Rate in Kazakhstan averaged 21.62 percent from 1992 until 2022, 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 January of 2022.

Interest Rate in Kazakhstan is expected to be 10.50 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 2023 and 9.00 percent in 2024, according to our econometric models.

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Kazakhstan Interest Rate


Kazakhstan Interest Rate
In Kazakhstan, interest rates decisions are taken by The National Bank of Kazakhstan. The National Bank of Kazakhstan official interest rate is the overnight policy rate. Policymakers set the overnight repo rate as the new benchmark on September 2nd, 2015, instead of the refinancing rate, after abandoning the currency peg in August.
Actual Previous Highest Lowest Dates Unit Frequency
10.25 9.75 300.00 5.50 1992 - 2022 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2021-10-25 09:00 AM 9.75% 9.5% 9.75% 9.75%
2021-12-06 09:00 AM 9.75% 9.75% 10% 10%
2022-01-24 09:00 AM 10.25% 9.75% 9.75% 9.75%
2022-03-09 09:00 AM 10.25%
2022-04-25 09:00 AM
2022-06-06 09:00 AM


Related Last Previous Unit Reference
Interest Rate 10.25 9.75 percent Jan/22
Interbank Rate 10.50 10.50 percent Jan/22
Banks Balance Sheet 35563009858.00 35105929415.00 KZT Thousand Sep/21
Central Bank Balance Sheet 11860822.00 11380386.00 KZT Million Sep/21


News Stream
Kazakhstan Unexpectedly Hikes Base Rate
The National Bank of Kazakhstan raised its benchmark interest rate by 50 bps to 10.25% on January 24th of 2022, against market expectations that monetary policy would remain unchanged. It is the highest interest rate since March of 2020, as the central bank said higher government spending was exacerbating inflationary pressures at the expense of the value of the national currency. Kazakhstan’s consumer price inflation eased for a second month in a row to a five-month low of 8.4% in December of 2021, contrasting with the upward trend seen in core inflation, which various estimates see it above the target corridor. Looking ahead, policymakers predict the national inflation rate should continue to moderate to the 6.0%-6.5% range in 2022 amid tighter monetary policies and other measures.
2022-01-24
Kazakhstan Leaves Key Rate Unchanged at 9.75%
The National Bank of Kazakhstan kept its benchmark interest rate unchanged at 9.75% on December 6th of 2021, on account of a general slowdown seen in inflation rate and amid uncertainty over the new Omicron COVID variant. Kazakhstan’s consumer price inflation edged down to 8.7% in November of 2021 from a 5-year high of 8.9 % in October. Meanwhile, policymakers revised GDP growth forecasts to 3.7%-4% for 2021 while for 2022, growth forecasts were revised slightly higher to 3.9%-4.2%.
2021-12-06
Kazakhstan Raises Base Rate to 9.75%
The National Bank of Kazakhstan raised its benchmark base rate by 25 bps to 9.75% on October 25th of 2021, the third consecutive rate increase, and pushing borrowing costs to the highest in over a year, aiming to control rising inflation. Kazakhstan’s consumer price inflation edged up to 8.9% in September of 2021, the highest since October 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.
2021-10-25