ALMATY, June 5 (Xinhua) -- Kazakhstan's National Bank on Friday cut its base rate to 17 percent, plus or minus 1 percentage point, citing easing inflation and a stronger economic outlook.
Annual inflation slowed to 10.4 percent in May from a peak of 12.9 percent in September 2025. Reflecting faster-than-expected disinflation, limited pass-through from a value-added tax increase and a stronger tenge, the central bank lowered its 2026 inflation forecast to 9-11 percent from 9.5-11.5 percent.
It also raised its 2026 gross domestic product growth forecast to 4.5-5.5 percent, supported by stronger economic activity and higher oil price assumptions. ■
