Kazakhstan raises rate as Kyrgyzstan cuts
IMF criticises Kyrgyz monetary policy and failure to reform central bank law
Kazakhstan: The National Bank of Kazakhstan raised its policy rate by 75 basis points on December 5, the ninth rate increase since July 2021 and the sixth this year. The key rate is now 16.75%, up from 9% in mid-2021.
In a statement, the NBK’s monetary and credit policy committee said the central bank is “nearing the end of the base rate hike cycle”.
The MPC said external and internal factors had driven inflation to 19.6% in November, mentioning supply and transport disruptions, high
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