The National Bank of Kazakhstan held its benchmark base rate unchanged at 9.0 percent on June 7th of 2021, as expected. Policymakers said the decision took into account the balance of inflation risks in the short and medium term, due to the persistence of external inflationary pressures in Kazakhstan’s major trading partners, mainly driven by world food prices. In May, annual inflation quickened to a 3-month high of 7.2 percent, lifted by prices of non-food goods and paid services. The central bank said inflation could exceed the target range of 4 to 6 percent. The committee confirmed the economy was undergoing a gradual recovery of business activity and consumer demand. Looking ahead, policymakers raised the bank’s economic growth forecast for 2021 to between 3.6 and 3.9 percent, from a prior range of 3.4 to 3.7 percent. source: National Bank of Kazakhstan
Interest Rate in Kazakhstan averaged 22.02 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 July of 2021.
Interest Rate in Kazakhstan is expected to be 9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Kazakhstan to stand at 9.00 in 12 months time. In the long-term, the Kazakhstan Interest Rate is projected to trend around 9.00 percent in 2022, according to our econometric models.