National Bank of Kazakhstan plans to reduce level of annual inflation rate down to 4% by 2020

The National Bank has already begun working on the task within the instructions given by the Head of State. Thus, according to D. Akishev, the measures on improvement of the monetary policy in terms of development of the system of instruments and strengthening of the potential channels of the transmission mechanism, system of analysis and forecast, communication policy and the measures on increasing the trust in the national currency are already taken.

"In order to improve the situation the National Bank fixed the base rate, which is the main instrument of the monetary policy the bank uses to target the market rates. Thus, the National Bank regulates the short-term liquidity of the banking system and accordingly the money supply. As a result it all impacts the prices," D. Akishev said.