Published
11/25/2025, 10:58The National Bank does not plan any additional increases in the discount rate until the end of the year. This was announced by the deputy chairman of the regulator, Azat Kozubekov, commenting on the results of the last board meeting.
According to him, the schedule of planned meetings for 2025 no longer provides for decisions on the rate. However, the National Bank reserves the right to intervene promptly if the economy is affected by sudden external shocks.
«The regulator is not bound by a strict schedule and can change the terms of
monetary policy at any time if necessary», — Kozubekov noted.
The latest increase to 11% was a planned decision for the current year. The next meeting, at which the rate will be considered, is scheduled for the end of January.
The deputy head of the National Bank recalled that in 2022, against the backdrop of strong external economic pressure, the regulator raised the rate to 14%, which helped to maintain exchange rate stability and sufficient international reserves. Today's decisions, according to him, are also aimed at keeping inflation in check and supporting the stability of the financial system.
