Published on: 2026-06-05
Source: People’s Republic of China in Russian –
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Almaty, June 5 /Xin Hua/ — The Monetary Policy Committee of the National Bank of Kazakhstan lowered the base rate to 17% per annum. This was reported by the regulator’s press service on Friday.
Since October 2025, the base rate has been at the level of 18 percent. The decision to reduce it was made in connection with the slowdown of inflation and its forecast improvement.
Annual inflation continued to slow down, amounting to 10.4% by the end of May 2026 and decreasing by 2.5 percentage points from the peak value of 12.9% in September of the previous year, the National Bank reported.
The inflation forecast for 2026 has been revised downward to 9-11 percent from the previous forecast of 9.5-11.5 percent. The main reasons for the revision were the faster actual slowdown in price growth, the limited transfer of the VAT increase to prices, as well as the strengthening of the tenge exchange rate, according to the statement.
The forecast for Kazakhstan’s GDP growth for 2026 has been improved and is estimated in the range of 4.5-5.5 percent due to higher actual economic activity and improved price conditions for oil. GDP growth for 2027-2028 is forecasted at the level of 3.5-4.5 percent, added the National Bank. –0–
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