2026-09-04

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Base rate lowered to 16.25% following forecast round

The Monetary Policy Committee of the National Bank of the Republic of Kazakhstan sets the base rate at 16.25% per annum, establishing a corridor of +/- 1 percentage point. This decision follows the results of the forecast round, updated macroeconomic assessments, and the balance of inflation risks. The committee notes that annual inflation slowed to 9.8% in August, with disinflation continuing for eleven consecutive months, while the 2027 inflation forecast is revised upward to 6.5–8.5%.

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