Kazakhstan proposes sweeping changes to monetary policy framework

The National Bank of Kazakhstan

The National Bank of Kazakhstan today (May 14) proposed a sweeping reform programme that would see much of its current monetary policy framework uprooted and replaced.

Kazakhstan hopes to achieve greater macroeconomic stability by introducing inflation targeting gradually over the next five years. The central bank said in its report on the transition process there were "good prospects" for the policy regime in the economy.

Every aspect of the monetary framework seems to have been considered. The

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