Kazakhstan makes surprise 25bp rate cut
Analyst says central bank is trying to signal that disinflationary measures are working
The National Bank of Kazakhstan today (July 24) cut rates by 25 basis points to 16.75%.
According to a statement, the central bank cited the fall in annual inflation over the past nine months as part of the reason behind its decision. Official statistics show inflation fell from 10.4% in May to 10.3% in June, having previously stood at 12.9% last September. The bank’s medium-term inflation target is 5%.
The bank said the broad disinflationary trend had been supported by monetary policy, the
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