ALMATY, Oct. 23 (Xinhua) -- The Monetary Policy Committee of the National Bank of Kazakhstan on Friday lowered the base rate to 15.75 percent per annum, the central bank said in a press release.
Annual inflation in Kazakhstan has declined for 12 consecutive months, reaching 9.3 percent in September. Monthly inflation stood at 0.6 percent, unchanged from August, while seasonally adjusted monthly inflation eased to 0.7 percent from 0.9 percent in the previous month, according to the national bank.
The bank aims to bring inflation back to its 5 percent target in 2028, the statement said.
Kazakhstan's gross domestic product grew by 4.2 percent year on year in January-September 2026, driven by non-resource sectors, primarily construction, manufacturing and transport. Fixed capital investment rose by 7 percent, while investment in the non-resource sector, excluding budget funds, increased by 25 percent, it said. ■