Regulatory Alerts2026-09-04
Added
Statement by the Governor of the NBK, T.M. Suleimenov on the Base Rate of the National Bank, 4 September 2026
The Monetary Policy Committee of the National Bank decided to reduce the base rate by 50 basis points, setting it at 16.25%. This decision follows a comprehensive assessment of macroeconomic trends and risks, noting that annual inflation declined to 9.8% in August. The National Bank will maintain moderately tight monetary policy to achieve a sustained decline in inflation towards the 5% target by 2028. Additionally, minimum reserve requirements were raised in September as part of the third stage, aiming to absorb up to KZT 7 trillion in excess liquidity from the money market.
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