Kazakh national bank anticipates decline in inflation

17:04, 30 March 2018

MOSCOW. KAZINFORM - The National Bank of Kazakhstan forecasts 5-7% inflation in the country by the end of this year, Governor of the National Bank Daniyar Akishev told Kazinform during his visit to Moscow for the participation in a regular session of the Advisory Board on Monetary Policy of the EAEU Member States.

He pointed out that the decision to reduce the base rate was motivated by the positive results achieved in 2017 and favorable expectations about the development of the situation during the current year.

"This year, we made the decision to lower the base rate because of the improvement in the anticipated inflation rate amid the persistence of positive trends in foreign markets and trading partner countries, as well as the decline in inflation expectations that continued in 2018," said Akishev.

In addition, he underscored that the Kazakh central bank continues targeting the money-and-credit neutrality.

"The current trajectory of the base rate level was formed with due regard for our short and medium-term inflation forecasts and makes it possible to attain the 5-7% and 4-6% target inflation rates by the end of this year and 2019," he added.

National Bank of Kazakhstan Economy