National Bank of Kazakhstan plans to reduce inflation

By  Trend

Chairman of the National Bank of Kazakhstan Yerbolat Dossayev said at a government meeting in which case the financial regulator will tighten its monetary policy, Trendreports via Kazakh media.

He noted that the National Bank will maintain the inflation targeting regime with an emphasis on maintaining low inflation, as well as sustainable economic development of the country and growth of living standards. The target inflation is being specified.

It is proposed to keep the band of 4-6 percent until 2021, and from 2022 to reduce it to 3-5 percent and maintain it in the long term.

"The National Bank will strive to maintain the level of the base rate positive in real terms within 3-3.5 percent," Dossayev said.

He added that with increasing risks of inflation going beyond the established target band, the monetary policy can be tightened.