{"id":24427,"date":"2011-10-12T13:19:00","date_gmt":"2011-10-12T17:19:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/10\/12\/national-bank-of-kazakhstan-holds-refinancing-rate-at-7-50\/"},"modified":"2011-10-12T13:19:00","modified_gmt":"2011-10-12T17:19:00","slug":"national-bank-of-kazakhstan-holds-refinancing-rate-at-7-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/10\/12\/national-bank-of-kazakhstan-holds-refinancing-rate-at-7-50\/","title":{"rendered":"National Bank of Kazakhstan Holds Refinancing Rate at 7.50%"},"content":{"rendered":"<p><span>The National Bank of&nbsp;<a href=\"http:\/\/www.nationalbank.kz\/?switch=eng\">Kazakhstan<\/a>&nbsp;held its key refinancing rate unchanged at 7.50% as inflationary pressures ease somewhat. &nbsp;NBK Chairman, Grigori Marchenko, <a href=\"http:\/\/www.businessweek.com\/news\/2011-10-12\/kazakhstan-s-central-bank-keeps-refinancing-rate-at-7-5-.html\">said<\/a> that the central bank will not revise its 2011 inflation target of 6-8%, after the &#8220;lower-than-expected&#8221; inflation reading in September. &nbsp;The Market does not expect any interest rate changes in the near term. &nbsp;<\/span><span><span><span>Kazakhstan&#8217;s central bank last increased the <\/span><\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/03\/kazakhstan-central-bank-raises-rate.html\">interest rate<\/a><span><span> in March this year by 50 basis points to 7.50%. &nbsp;<\/span><\/span><\/span><\/p>\n<div><span><span><span><\/span><\/span><\/span><br \/><a name='more'><\/a><\/div>\n<div><span><span><span>Kazakhstan reported inflation of 8.7% in&nbsp;September, compared to 9.0% in August, and 8.50% in July, and above the official inflation target of 8 percent. &nbsp;Kazakhstan&#8217;s economy grew at an annual pace of 6.8% in the March quarter (6.4% in December 2010). &nbsp;Kazakhstan recently returned its currency, the Tenge, to a &#8220;managed&#8221; free float, abolishing the tenge&#8217;s trading corridor at the end of February. &nbsp;The Kazakhstani <\/span><\/span><a href=\"http:\/\/caspionet.kz\/eng\/business\/Tenge_exchange_rate_is_stable_1318059391.html\">Tenge<\/a><span><span> (KZT) last traded around 148 against the US dollar.<\/span><\/span><\/span><\/p>\n<div><span><br \/><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/div>\n<\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-2435353319267702741?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Bank of&nbsp;Kazakhstan&nbsp;held its key refinancing rate unchanged at 7.50% as inflationary pressures ease somewhat. &nbsp;NBK Chairman, Grigori Marchenko, said that the central bank will not revise its 2011 inflation target of 6-8%, after the &#8220;lower-than-expected&#8221; inflation reading in September. &nbsp;The Market does not expect any interest rate changes in the near term. &nbsp;Kazakhstan&#8217;s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/10\/12\/national-bank-of-kazakhstan-holds-refinancing-rate-at-7-50\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;National Bank of Kazakhstan Holds Refinancing Rate at 7.50%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-24427","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=24427"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24427\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}