June 5, 2017 / 11:36 AM / 2 months ago

Kazakh cenbank aims to keep key rate 4 pct points above inflation

ALMATY, June 5 (Reuters) - Kazakhstan's central bank said on Monday it would aim to keep its key policy rate 4 percentage points above inflation.

Earlier on Monday the bank cut its key rate to 10.50 percent from 11.00 percent, citing a recovery in the national currency, the tenge KZT=, and lower inflation.

The bank also said that the undervalued real tenge rate was supporting Kazakhstan's producers. (Reporting by Olzhas Auyezov; Writing by Dmitry Solovyov; editing by Vladimir Soldatkin)

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