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.