Kazakh central bank warns of inflation pressure after protests

Policy-makers opt for 50bp rate hike to curb possible inflation surge

National Bank of Kazakhstan
National Bank of Kazakhstan

The National Bank of Kazakhstan executed a 50 basis point rate hike today (January 24), as policy-makers warned of possible inflationary pressures due to violent protests across the country.

The rate hike took the central bank’s main interest rate to 10.25%. Annual inflation was 8.4% in December, down from 8.7% in November, but the NBK noted various forces could still reverse the recent progress towards the target corridor of 4–6%.

The NBK said the “tragic events” of early January could

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