Kasachstan Zinssatz

The National Bank of Kazakhstan raised its benchmark interest rate to 16.5% during its March 7th meeting, pushing borrowing costs to their highest since September 2023. The decision considered actual data, updated forecasts, and inflation risks, as high price growth is easing monetary conditions, requiring active measures to curb inflation. The country's headline inflation accelerated to 9.4%, with price growth rising across all components, particularly in services.The inflation forecast for 2025-2027 was raised to 10-12% in 2025, 9-11% in 2026, and 5.5-7.5% by 2027 due to external pressures, fuel price hikes, VAT increases, and housing reforms. Meanwhile, the economic growth forecast for 2025-2026 was lowered to 4.2-5.2% due to reduced oil production, but strong domestic demand and oil sector recovery will support growth, with GDP reaching 4.5% in 2027, potentially higher with successful reforms.The next policy meeting is scheduled for April 11, 2025.