{"id":27371,"date":"2012-02-14T11:46:00","date_gmt":"2012-02-14T16:46:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/02\/14\/national-bank-of-kazakhstan-cut-rate-50bps-to-7-00\/"},"modified":"2012-02-14T11:46:00","modified_gmt":"2012-02-14T16:46:00","slug":"national-bank-of-kazakhstan-cut-rate-50bps-to-7-00","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/02\/14\/national-bank-of-kazakhstan-cut-rate-50bps-to-7-00\/","title":{"rendered":"National Bank of Kazakhstan Cut Rate 50bps to 7.00%"},"content":{"rendered":"<div align=\"right\"><script type=\"text\/javascript\">\ntweetmeme_style = 'compact';\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\"><\/script><\/div>\n<p><span><span><span>The National Bank of&nbsp;<\/span><\/span><a href=\"http:\/\/www.nationalbank.kz\/?switch=eng\">Kazakhstan<\/a><span><span>&nbsp;cut its key refinancing rate by 50 basis points to 7.00% from 7.50% as inflationary pressures eased. &nbsp;NBK Chairman, Grigori Marchenko,&nbsp;<\/span><\/span><a href=\"http:\/\/www.reuters.com\/article\/2012\/02\/14\/kazakhstan-rate-idUSL5E8DE05920120214\">said<\/a>:<span><span>&nbsp;&#8220;If the level of inflation is the same, I think we could lower the refinancing rate again in April.&#8221;&nbsp;&nbsp;<\/span><\/span><\/span><span>Kazakhstan&#8217;s central bank last increased the&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/03\/kazakhstan-central-bank-raises-rate.html\">interest rate<\/a>&nbsp;in March last year by 50 basis points to 7.50%.<\/span><br \/><a name='more'><\/a><\/p>\n<div><span>Kazakhstan reported inflation of 5.9% in January, 7.4% in December, 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 7.2% in 3Q11, up from 7% in the June quarter, and 6.8% in the March quarter. &nbsp;<\/span><\/div>\n<div><span><br \/><\/span><\/div>\n<div><span>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 last year. &nbsp;The Kazakhstani&nbsp;<a href=\"http:\/\/caspionet.kz\/eng\/business\/Tenge_exchange_rate_is_stable_1318059391.html\">Tenge<\/a>&nbsp;(KZT) last traded around 148 against the US dollar.<\/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\/8290544642025682538-7079597882923663472?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Bank of&nbsp;Kazakhstan&nbsp;cut its key refinancing rate by 50 basis points to 7.00% from 7.50% as inflationary pressures eased. &nbsp;NBK Chairman, Grigori Marchenko,&nbsp;said:&nbsp;&#8220;If the level of inflation is the same, I think we could lower the refinancing rate again in April.&#8221;&nbsp;&nbsp;Kazakhstan&#8217;s central bank last increased the&nbsp;interest rate&nbsp;in March last year by 50 basis points &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/02\/14\/national-bank-of-kazakhstan-cut-rate-50bps-to-7-00\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;National Bank of Kazakhstan Cut Rate 50bps to 7.00%&#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-27371","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27371","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=27371"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27371\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=27371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=27371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=27371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}