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.
China’s Defence Minister Dong Jun has urged member states of the Shanghai Cooperation Organization (SCO) to push back collectively against what he called “hegemonic behaviour”, as defence ministers met for their annual summit in the eastern Chinese city of Qingdao.
Kazakhstan will create six new nature conservation institutions to preserve biodiversity, aiming to increase protected territories to 12.5% of the national area.
Kazakhstan’s industrial sector grew by 6.4% year-on-year in the first five months of 2025, driven by increased oil production and strong performance in manufacturing, according to Halyk Finance.
Kazakhstan's e-commerce sector has soared to 3.2 trillion tenge (around 6.2 billion U.S. dollars) in 2024, marking a sevenfold increase since 2020, according to Deputy Prime Minister Serik Jumanğarin.
A deadly car bombing struck a Pakistani military convoy near the Afghan border on Saturday, killing at least 13 soldiers and injuring several others, according to local sources.
Polish President Andrzej Duda arrived in Kyiv on a farewell visit ahead of the end of his term on 6 August. He is expected to meet with Ukrainian President Volodymyr Zelenskyy during his stay.
Azerbaijani media representatives have recently completed a visit to China to strengthen media relations between the two countries. This visit took place in Shanghai and Beijing, offering insights into the Chinese media sector. Here are the highlights from their trip.
Thousands of Iranians filled the streets of Tehran on Saturday to mourn senior military leaders and nuclear scientists killed in recent Israeli airstrikes.
Turkish Foreign Minister Hakan Fidan emphasized the urgency of a U.S.-Iran agreement to prevent further regional escalation, pointing to ongoing diplomatic momentum following recent military tensions.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
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.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
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The US stock market closed at record highs Friday, with both the S&P 500 and Nasdaq rebounding from late-session losses triggered by trade tensions with Canada.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Nike plans to reduce its reliance on China for U.S.-bound products to offset the financial blow from President Donald Trump’s new tariffs, as the sportswear giant posted better-than-expected fourth-quarter results and a milder revenue forecast.
Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
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.
A deadly car bombing struck a Pakistani military convoy near the Afghan border on Saturday, killing at least 13 soldiers and injuring several others, according to local sources.
Polish President Andrzej Duda arrived in Kyiv on a farewell visit ahead of the end of his term on 6 August. He is expected to meet with Ukrainian President Volodymyr Zelenskyy during his stay.
Azerbaijani media representatives have recently completed a visit to China to strengthen media relations between the two countries. This visit took place in Shanghai and Beijing, offering insights into the Chinese media sector. Here are the highlights from their trip.
Thousands of Iranians filled the streets of Tehran on Saturday to mourn senior military leaders and nuclear scientists killed in recent Israeli airstrikes.
Turkish Foreign Minister Hakan Fidan emphasized the urgency of a U.S.-Iran agreement to prevent further regional escalation, pointing to ongoing diplomatic momentum following recent military tensions.
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