Kazakhstan Interest Rate

Last Release

Mar 07, 2025

Actual

16.5

Units In

15.25

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
300 Mar 1994	5.5 Aug 2012	20.73 %	1992-2025	National Bank of Kazakhstan

In Kazakhstan, interest rates decisions are taken by The National Bank of Kazakhstan. The National Bank of Kazakhstan official interest rate is the overnight policy rate. Policymakers set the overnight repo rate as the new benchmark on September 2nd, 2015, instead of the refinancing rate, after abandoning the currency peg in August.

Latest Updates

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.