Kazakhstan’s Akishev sets sights on lower inflation

Daniyar Akishev. Photo: Ujnodayrn

The National Bank of Kazakhstan (NBK) plans to build on its success so far with inflation targeting and push inflation even lower in the medium term, governor Daniyar Akishev said on February 3.

The central bank has aimed for a band of 6–8% CPI inflation since adopting inflation targeting in 2015. The switch from a pegged exchange rate was prompted by selling pressure on the tenge, which caused the central bank to abandon the peg and devalue the currency in August 2015.

Akishev said the central