哈萨克斯坦央行维持基准利率18%不变

Core Viewpoint - The National Bank of Kazakhstan has decided to maintain the benchmark interest rate at 18%, reflecting ongoing inflationary pressures and economic conditions [1]. Group 1: Inflation and Economic Conditions - Kazakhstan's inflation rate is projected to be 12.3% for 2025, aligning with previous expectations [1]. - Food prices, particularly for meat and vegetable oil, continue to rise due to increased production costs and export demand [1]. - Other consumer goods and service prices have seen a slowdown in growth, influenced by the strengthening of the tenge [1]. Group 2: Factors Influencing Inflation - Domestic factors contributing to inflation include strong consumer demand and insufficient supply capacity [1]. - The indirect effects of rising prices for essential services and fuel continue to exert pressure on overall prices [1]. - There is an increase in public and market expectations regarding future price trends, leading to heightened inflation expectations [1]. Group 3: Monetary Policy and Future Outlook - The current moderately tight monetary policy is aimed at controlling inflation, with a slowdown in credit and market funding growth [1]. - The stability of the tenge is seen as a contributing factor to mitigating inflationary pressures [1]. - The next adjustment of the benchmark interest rate is scheduled for March 6 [2].