Cabinet, NB to keep inflation at 6-8% in 2016 - Chief banker
ASTANA. KAZINFORM The Government and the National Bank forecast that inflation in the country will be at 6-8% in 2016, Kazinform has learnt from Kazakhstan's chief banker Daniyar Akishev as saying at the plenary session of the Majilis today.
According to Akishev, the National Bank and the Government have developed special measures to keep inflation rate at the level forecast for the next year.
"Prices stability is a priority of the National Bank. In this view, we plan to launch a package of measures to lower the inflation rate, including monetary policy, interest rates regulation, liquidity of the tenge and flexible exchange rate," he noted.
As per the National Bank's data, in January-October 2015 inflation was at 8.2% which corresponds to 9.4% annual rate. "It should be noted that till August 2015 low inflation was ensured by money supply restriction and reduction of monetization of economy which, in turn, resulted in lending decrease," Akishev added.
By the end of 2015 inflation will exceed the corridor of 6-8%, earlier fixed by the National Bank. Therefore, its goal will be to stabilize the inflation expectations and return inflation level to the designated corridor as soon as possible. For this reason, we expect that in 2016 inflation rate will be at 6-8%," he concluded.