Kazakhstan's chief banker reported to Senate on ensuring economy with long-term tenge liquidity

According to him, the solution of the problem of long-term tenge liquidity is impossible without ensuring short-term liquidity. "Since 2 February, the National Bank has established basic rate at 17% with the fluctuation band at v+/-2%. It means, that beginning from February 2, the National Bank provides the banks with unlimited tenge liquidity secured on high-liquidity marketable instruments," Akishev noted.

He added that the operations of the National Bank at cash markets fully satisfy the banks' need in short-term liquidity.
"Long-term liquidity will be ensured through the implementation of governmental programs and state support including the reserves of the Unified Accumulative Pension Fund. We are intensively working in this area at the President's instruction," stressed he.