Regulatory Alerts2026-07-24
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Statement by the Governor of the NBK on the Base Rate, 24 July 2026
The Monetary Policy Committee of the National Bank of Kazakhstan reduced the base rate by 25 basis points to 16.75%. This decision responds to the ninth consecutive month of declining annual inflation, which fell to 10.3% in June, while maintaining a moderately tight monetary stance to address persistent underlying price pressures and elevated inflation expectations. The NBK will continue to monitor domestic demand, external risks, and quasi-fiscal stimulus parameters to determine future rate adjustments.
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