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The National Bank of Kazakhstan Reduced the Annual Refinancing Rate from 7.5% down to 7%

On Tuesday the press service of the Bank informed that the Bank lowered the annual refinancing rate from 7.5% down to7%.

The press release reads as follows: “Considering the tendencies on the financial market and deceleration of the annual inflation rates, the Board of Directors of the National Bank of the Republic of Kazakhstan starting from February 14, 2012, made a decision to set up the official annual refinancing rate of the National Bank at 7%, which historically is the lowest level”.

The press release pointed out that the last change of the official annual refinancing rate took place on March 9, 2011, when it grew from 7% up to 7.5%.
According to the results of 2011 the annual inflation level was within the targeted corridor of 6% - 8% and reached the level of 7.4%.

The source.

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