Kazakhstan National Bank slashes key rate

Photo by Yaroslav Radlovskiy©

Kazakhstan National Bank has slashed the key rate to 5.5 percent per annum starting from August 6, Interfax-Kazakhstan reports.Until then the Bank’s official rate was 6 percent per annum. National Bank explained that this decision was made in relation to slowing down of the annual inflation in Kazakhstan. This is the fourth decrease of the rate this year that started with 7.5 percent.