UPDATE 1-Kazakh c.bank leaves interest rates unchanged

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ALMATY, April 1 (Reuters) - Kazakhstan's central bank said on Tuesday it would keep its key refinancing rate unchanged at 11 percent from April.

The central bank last changed the rate in December 2007, raising it sharply by two percentage points due to high inflation, after keeping it unchanged for months due to a liquidity squeeze in the banking sector.

The refinancing rate determines the rates the central bank charges local banks for liquidity injections.

In a brief statement, the National Bank gave no reason for leaving the rate unchanged.

A credit crunch due to the U.S. subprime mortgage crisis hit Central Asia's top economy hard in mid-2007 after local banks had aggressively tapped international debt markets to fund growth.

Analysts have warned liquidity problems could depress Kazakhstan's strong economic growth, which has been driven by booming global prices for its key exports, oil and metals. (Writing by Maria Golovnina; Editing by Alan Raybould)