Kazakhstan reduces refinancing rate to 6% per annum on June 4, 2012, National Bank say
2012-06-05 18:08:05
The National Bank of Kazakhstan has lowered the refinancing rate on June 4, 2012 to 6% per annum due to the slowdown in inflation in Kazakhstan.
The National Bank of Kazakhstan has lowered the refinancing rate to 6% per annum on June 4, 2012. According to the official press release, a trend of slowing inflation is the reason for this action. Since the beginning of the year, inflation in Kazakhstan amounted to 2.4% in May 2012 against December 2011. In annual terms, this rate stood at 5% while average annual inflation over the period of January-May 2012 compared to January-May 2011 was 5%. The last time the official refinancing rate changed on April 2, 2012, when it was reduced to 6.5% from 7% per annum.