National Bank of Kazakhstan lowers refinancing rate to 5.5%
2012-08-03 16:41:32
The Board of the National Bank of Kazakhstan decided to set the official refinancing rate at 5.5% effective from August 6 over slowdown in annual inflation rate and financial market trends, the National Bank's press service said.
The last cut of the official refinancing rate was made on June 4, 2012, when it was lowered from 6.5% to 6%.
Month-on-month inflation was unchanged at 0.3% in July. Year-on-year inflation measured 4.7% in July.
Consumer prices in Kazakhstan grew by 3% in the first seven months of 2012 compared to a 5.6% rise in the same period last year.