ALMATY :Kazakhstan's central bank kept its policy rate unchanged at 16.75 per cent on Friday and said it was unlikely to cut the rate in the first half of this year as it sought to stabilise inflation.The bank said it expected consumer prices to rise 9-12 per cent this year with the economy growing 3.5-4.5 pe
ALMATY :Kazakhstan's central bank kept its policy rate unchanged at 16.75 per cent on Friday and said it was unlikely to cut the rate in the first half of this year as it sought to stabilise inflation.
The bank said it expected consumer prices to rise 9-12 per cent this year with the economy growing 3.5-4.5 per cent.The bank hiked the rate sharply a year ago as the Kazakh tenge sank together with the Russian rouble as a result of the Russian invasion of Ukraine which plunged regional economies into uncertainty.
Annual inflation reached 20.7 per cent in January, a level not seen in the Central Asian nation since the 1990s, due to the disruption of many supply chains because of the war and subsequent Western sanctions against Moscow.
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