Statement - base rate of the National Bank of Kazakhstan
Statement by Mr Timur M Suleimenov, Governor of the National Bank of Kazakhstan, on the base rate of the National Bank of Kazakhstan, Astana, 24 July 2026.
Dear journalists, the National Bank has lowered its base rate by 25 basis points to 16.75%. This decision was influenced by declining inflation for nine months in a row, the strong Kazakhstani tenge, stable consumer activity, and anti-inflationary measures. However, underlying inflation factors have accelerated, and inflation expectations remain high, indicating ongoing inflationary risks.
The Bank aims to bring inflation to the 5% target on a sustainable basis. This easing of policy is measured and balanced, as there is a risk of higher gasoline prices that could impact energy costs. Inflation expectations among consumers and market participants remain elevated, with concerns about fuel prices and housing costs.
Written by urgent.news from BIS Central Bank Speeches's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
