In efforts to contain inflation and de-dollarize the economy, National Bank of Kazakhstan raises interest rates on deposits in tenge.
Statistics Committee of the Ministry of National Economy of Kazakhstan released official inflation rate data: 13.6% in 2015 in Kazakhstan.
Inflation in Kazakhstan reached 12.8% in the end of November. National Bank's Akishev names tenge depreciation the main driver.
Minister of National Economy Yerbolat Dossayev announced the increase of inflation corridor from 6-8 percent to 8-10 percent for 2015.
According to experts, appointment of Daniyar Ashirov as New Governor plunged the national currency into the feared 300 KZT to $1 zone.
The exchange rate reflects the current external factors such as the exchange rate of the Russia’s rouble and the current state of the Russia’s and China’s economies: Central bank Governor Daniyar Akishev.
The National Bank of Kazakhstan has revised the base interest rate raising from 12 to 16 percent in order to curb inflation in Kazakhstan.
Kazakhstan ended up in the 10 World’s Worst Performers in Economy compiled by Bloomberg.
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.
Earlier the country’s Central Bank reported that the annual inflation rate as of the end of July stood at 7%.
Cuba has been hit by a beer shortage during one of its hottest summers on record, sparking hoarding and driving thirsty .
IMF chief Christine Lagarde warned that low inflation could damage growth in Europe and urged the European Central Bank to maintain a flexible policy.
Inflation hit a three-decade high and unemployment dipped further in Japan, data showed Friday, as the government's bid to jumpstart the economy takes hold, even as analysts warned it was too early for celebrations.
National Bank Chairman Kairat Kelimbetov declared that the economy of Kazakhstan responded positively to the recent 20% devaluation of the Tenge.
The rate of inflation in Germany, Europe's biggest economy, fell to its lowest level in more than three years in March, official final data showed on Friday.
In view of the devaluation of the national currency - the tenge, the central bank of Kazakhstan believes that escalation of inflation is quite possible.
Australian inflation rose by a stronger-than-expected 1.2 percent in the July-September period compared to the previous quarter.
Despite the lingering uncertainty of the global economy, Kazakhstan’s economy has been stable, with the GDP growing 5.1% in the H1 2013. The annual inflation stands at 5.9%: Economy Minister.
Kazakhstan National Bank has approved the Key Monetary Policies of Kazakhstan for 2013.
According to Kazakhstan National Bank, the country’s inflation will stay within 6-8 percent, while the GDP growth may reach 6 percent.
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