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Tengrinews.kz ©
How new monetary policy will affect country’s banking system

Under such circumstances minor players of the market might opt for merging into bigger entities: Mr. Olzhas Khudaibergenov, Head of the Center for Macroeconomic Studies.

How new monetary policy will affect country’s banking system
Photo courtesy of tengrinews.kz
Nazarbayev instructs National Bank to compensate tenge deposits

President of Kazakhstan instructed the National Bank to initiate a mechanism of compensation for private fixed-term deposits in tenge.

Nazarbayev instructs National Bank to compensate tenge deposits
REUTERS ©
Kazakhstan central bank on why fixed currency exchange rate had to be renounced

Inflation targeting is another type of monetary policy that rests on the inflation rate in the mid run, rather than on the currency exchange rate: Kairat Kelimbetov.

Kazakhstan central bank on why fixed currency exchange rate had to be renounced
Turar Kazangapov ©
Kazakhstan opts for floating exchange rate for its currency

The National Bank will not be directly defining the exchange rate, but will retain the right to rely on currency interventions if the financial system faces threats of destabilization.

Kazakhstan opts for floating exchange rate for its currency
©Tengrinews
Causes of tenge-dollar exchange rate spike unclear

People in Kazakhstan wonder about the meaning of August 19 spike in tenge-dollar exchange rate, while the National Bank keeps silent.

Causes of tenge-dollar exchange rate spike unclear
©Tengrinews
Samruk Kazyna transfers 10% of KazMunaiGas stock to National Bank

Samruk Kazyna has transfered 10% of KazMunaiGas stock to the National Bank of Kazakhstan.

Samruk Kazyna transfers 10% of KazMunaiGas stock to National Bank
Central Bank Governor Kairat Kelimbetov. Photo courtesy of ortcom.kz.
Kazakhstan expands tenge to US dollar exchange rate corridor

Kazakhstan’s central bank has expanded the tenge to US dollar exchange rate corridor.

Kazakhstan expands tenge to US dollar exchange rate corridor
Kairat Kelimbetov. Photo © RIA Novosti
Kelimbetov comments on National Bank relocation to Astana

Governor of the National Bank of Kazakhstan Kairat Kelimbetov has commented on relocation of the major financial institution from Almaty to Astana.

Kelimbetov comments on National Bank relocation to Astana
Turar Kazangapov ©
No drastic changes of the tenge exchange rate: Central Bank Governor

Earlier President Nazarbayev declared that no devaluation of the tenge would happen right after the presidential elections, as it had been predicted earlier by some analysts.

No drastic changes of the tenge exchange rate: Central Bank Governor
Kairat Kelimbetov. Photo courtesy of primeminister.kz
Kazakhstan not to take Argentina’s path when walking away from excessive dollarization

We are not taking measures Argentina once resorted to. For Argentina it was a forced step. We want to smoothly walk away from dollarization: Central Bank Governor.

Kazakhstan not to take Argentina’s path when walking away from excessive dollarization
Single Pension Fund to attract private companies for assets management

Starting from next year, part of the assets will be managed by private companies (…) to develop the People’s IPO Program and take part in IPOs run by various companies. The National Bank will be responsible for investing into government securities: Central Bank Governor.

Single Pension Fund to attract private companies for assets management
Kairat Kelimbetov. Photo courtesy of ortcom.kz
Central Bank Governor on National Oil Fund

As of April 1, 2015 Kazakhstan’s international reserves stood at $98.8 billion, including $29.1 billion in gross gold and FX reserves of the Central Bank and $69.7 billion in assets of the National Oil Fund.

Central Bank Governor on National Oil Fund
Kairat Kelimbetov. By Yaroslav Radlovsky ©
Kazakhstan Central Bank Governor on sanctions against Russia and integration efforts

Kazakhstan’s stance is very clear: sanctions come and go, whereas long-term strategic partnerships are here to stay for a long time: Kairat Kelimbetov.

Kazakhstan Central Bank Governor on sanctions against Russia and integration efforts
Kairat Kelimbetov. By Yaroslav Radlovsky ©
Kazakhstan is more upbeat over economic prospects amidst positive news from Russia

We believe that with the current prices for oil standing at $55-60 per barrel, the Kazakhstan’s economy growth figure will stand at over 2% rather than at 1.5% (as was earlier estimated)”, Mr. Kelimbetov said.

Kazakhstan is more upbeat over economic prospects amidst positive news from Russia
Photo courtesy of pantex.ch
Kazakhstan mulls limiting cash transactions for sole proprietors

Kazakhstan mulls limiting cash transactions between sole proprietors to 1,000 MCI or 1,982,000 tenge ($10,667).

Kazakhstan mulls limiting cash transactions for sole proprietors
Photo © Turar Kazangapov
Nazarbayev dispels rumours of tenge devaluation

President Nursultan Nazarbayev has dispelled the rumours about a forthcoming devaluation of the tenge in Kazakhstan.

Nazarbayev dispels rumours of tenge devaluation
Single Pension Fund ©Tengrinews file photo
Kazakh deputy demands answers from National Bank for pension losses

Kazakhstan MP asks the National Bank why 90 billion tenge ($484 million) were written off from pension accounts.

Kazakh deputy demands answers from National Bank for pension losses
Photo courtesy of raznesi.info
Kazakhstan budget may lose $5 bln in revenues

The budget revenues of Kazakhstan may be $5 bln short of target if the oil prices stay at $50 per barrel in 2015.

Kazakhstan budget may lose $5 bln in revenues
Photo courtesy of oilnews.kz
Kazakhstan’s Central Bank comes up with plan to reduce economy dollarization

The plan for 2015-2016 was developed concertedly with the Government and seeks to ensure macroeconomic stability, develop cashless payments, reducing the shadow economy, and prioritize the national currency over foreign currencies.

Kazakhstan’s Central Bank comes up with plan to reduce economy dollarization
Kazakh central bank to allocate $698 million to support mortgage programs

The Central Bank emphasized the measure didn’t imply writing off debts and is targeted at making the mortgage conditions more affordable.

Kazakh central bank to allocate $698 million to support mortgage programs