The National Bank of Kazakhstan has raised the key interest rate by 1.25 percentage points today, from 15.25% to 16.5%, according to the financial regulator.
The bank's press service stated that the rate hike was prompted by rising inflation, which reached 9.4% in February.
The National Bank of Kazakhstan aims to reduce inflation to 5%.
Prices are rising mainly due to increased service costs, high demand, and active consumer lending. External factors, such as the situation in Russia and high global commodity prices, also contribute to inflationary pressure.
The bank predicts inflation will reach 10-12% in 2025, 9-11% in 2026, and decline to 5.5-7.5% by the end of 2027.
This will stabilize both short-term and long-term inflation expectations, preventing a continued rise in prices,” the statement said. It also emphasized that the decision would help preserve purchasing power, protect savings, and boost confidence in tenge assets.
Economic growth is expected to slow to 4.2-5.2% in 2025-2026, though reforms aimed at increasing fixed capital investment, foreign direct investment, and economic liberalization may spur acceleration.
Previously, the key rate was increased by 1 percentage point to 15.25% in December 2024, and it remained unchanged in January 2025.
Australia and the United Kingdom have signed a landmark 50-year treaty to cement their partnership under the AUKUS nuclear submarine programme....
Firefighters in Greece are battling wildfires near Athens and on several islands as the country swelters under its third heatwave of the summer. Villa...
U.S. President Donald Trump said on Saturday he was speaking with the leaders of Thailand and Cambodia to press for a ceasefire as border fighting ent...
China has signalled plans to establish an international organisation for artificial intelligence, seeking to position itself as a counterweight to the...
Two spectators were killed and another seriously injured on Saturday when a rally car veered off the road during a race near Ambert in France’s Puy-...
A Kazakh military helicopter carrying three crew members vanished from radar during a scheduled flight over the Almaty Region on Friday, according to the country's defence ministry.
AnewZ Original Series 'Destination' features Kazakhstan’s premier winter sports destination and the largest ski resort in Central Asia: Shymbulak Mountain Resort.
AnewZ ‘s Destination travels to Kazakhstan’s most enchanting and unique retreat: Oi Qaragai Mountain Resort.
A Russian general personally ordered the missile strike that brought down an Azerbaijan Airlines passenger plane last December, according to an investigative report by Minval Politika.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Volkswagen cut its 2025 forecast after U.S. tariffs slashed €1.3 billion from profits, but strong EV demand and European sales offer signs of recovery.
The IMF has approved a $625 million loan program for Chad to support economic growth and social spending amid regional and economic challenges.
Volkswagen cut its 2025 forecast after U.S. tariffs slashed €1.3 billion from profits, but strong EV demand and European sales offer signs of recovery.
Saudi Arabia announced $6.4 billion of investments in Syria on Thursday, reflecting the kingdom's deepening ties with interim President Ahmed al-Sharaa's government as it seeks to rebuild Syria after a 14-year civil war.
The Central Bank of Azerbaijan has reduced the refinancing rate from 7.25% to 7%, the interest rate corridor floor from 6.25% to 6%, and the ceiling from 8.25% to 8%.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment