National Bank of Kazakhstan might have further rate cuts of refinancing to 5.5%
2012-06-07 15:04:12
Head of the National Bank of Kazakhstan Grigory Marchenko noted the possibility of further reducing the refinancing rate if inflation remains at current levels. He said this to journalists on Thursday.
"If inflation is stable at 5%, we should not concentrate on 6%. It was stable for a year, if it is the way it goes, we will consider the rate of 5.5%," he told.
The head of the National Bank also noted that the rates on deposits and loans are falling, but slowly. "If you look at the trend over the past three years, it clearly shows that the rates are reduced - on deposits and loans," Marchenko added.
The National Bank of Kazakhstan has reduced the refinancing rate to 6% per annum since June 2012.