Kazakhstan Central Bank Cuts Refinancing Rate to Record 5.5%
Friday 3 August 2012
(Bloomberg) – Kazakhstan’s central bank cut its refinancing rate to a record after inflation eased for a second month, bringing price growth further below the regulator’s target range.
The National Bank of Kazakhstan reduced the benchmark rate by a half-point to 5.5%, effective Aug. 6, the Almaty-based regulator said in an e-mailed statement today. The biggest energy producer in central Asia last decreased borrowing costs in June.