Kazakhstan cuts interest rates under pressure from president

Cut to 9% comes just days after president ordered change


The National Bank of Kazakhstan (NBK) cut its policy rate by 25 basis points to 9% on April 15, following calls from the country’s president to make credit more affordable.

The cut comes just days after Kassym-Jomart Tokayev, Kazakhstan’s new president, ordered the NBK to find a way to lower banks’ lending rates and ensure growth in lending, according to Reuters. Tokayev is facing a snap election on June 9.

The change is the first since October 2018, and comes less than two months after the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account