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.
Russia's Defence Ministry said its forces struck two cargo vessels overnight in the Ukrainian Black Sea port o...
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad sayin...
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction. ...
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the weekend BRICS summit, amid the ongoing U.S.-Iran conflict, joining a host of foreign dignitaries.
Ukrainian forces struck a Russian oil refinery in Siberia and a seaport in Dagestan in the past 24 hours, President Volodymyr Zelenskyy said. He will meet Canadian Prime Minister Mark Carney on Thursday to discuss air defences for Ukraine over winter.
A Russian strike on a gas station in Kyiv has killed two people, the city's Mayor Vitali Klitschko said in a statement on Telegram. In Russia, online marketplace Ozon has suspended operations in Saratov, southwestern Russia, following a drone strike on a warehouse in the region.
Twenty-five years after the September 11 attacks drew the U.S. into Afghanistan, the Taliban is seeking a new relationship with Washington built on diplomacy, investment and trade, despite deep divisions between the former enemies.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment