Interest Rate in Kazakhstan

Kazakhstan Interest Rate | Economic News & Forecasts

Kazakhstan - Interest Rate

Central bank raises its policy

At its latest meeting on 25 July, the National Bank of Kazakhstan (NBK) decided to raise its base rate by 50 basis points to 14.50%, following its decision to stand pat in early June. Meanwhile, the interest rate corridor was kept at plus or minus 1.0 percentage points.

This decision was driven by above-target inflation as well as accelerating inflation expectations. Inflation remained in double digits across May and June, with the median inflation expectation for the year ahead rising to 14.9% in June from 13.8% in May. Supply chain disruptions, currency depreciation and external inflationary pressures have driven prices upwards in recent months. Inflation has been further stoked by strong internal demand associated with elevated government spending in late Q2.

Looking ahead, our panel expects a further 25 basis points of tightening by the end of the year. The Bank said that inflation had yet to peak: It is projected to continue rising until Q1 2023. The Bank stated that future monetary policy decisions would be contingent on its economic forecasts, as well as the balance of risks in the global and domestic economy. The next monetary policy meeting is scheduled to take place on 5 September.

FocusEconomics Consensus panelists see the base rate ending 2022 at 14.75%, and 2023 at 11.35%.

Kazakhstan - Interest Rate Data

2015   2016   2017   2018   2019  
Policy Interest Rate (%)16.00  12.00  10.25  9.25  9.25  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.


Kazakhstan Interest Rate Chart

Kazakhstan Interest Rate
Note: Policy Interest Rate in % (eop).

Kazakhstan Facts

Value Change Date
Exchange Rate382.90.32 %Jan 01
Stock Market0.10.0 %Jan 07

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.


Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form