Published
07/24/2026, 13:53The Monetary Policy Committee of the National Bank of Kazakhstan has set the base rate at 16.75 per cent per annum. The interest rate corridor has been set at +/- 1 percentage point.
The decision was taken as part of a monetary policy aimed at reducing inflationary pressures and maintaining price stability.
By way of comparison, in Kyrgyzstan, the National Bank’s base rate stands at 12 per cent per annum. Thus, the difference between the two countries’ rates is 4.75 percentage points.
The higher rate in Kazakhstan implies tighter monetary conditions. Raising the cost of borrowing is usually intended to curb inflation by restricting the growth of lending and consumer demand.
In Kyrgyzstan, the National Bank is also maintaining a fairly tight policy: the 12 per cent rate remains a tool for controlling inflation and maintaining financial market stability.
At the same time, the lower rate compared with Kazakhstan creates relatively more accommodative conditions for lending to the economy and businesses.
