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Kazakhstan keeps rate at 12 pct, hints at more rate cuts
January 9, 2017 / 11:10 AM / a year ago

Kazakhstan keeps rate at 12 pct, hints at more rate cuts

ASTANA, Jan 9 (Reuters) - Kazakhstan’s central bank kept its policy rate unchanged at 12 percent on Monday but said chances of more rate cuts have increased thanks to an inflation slowdown.

Annual inflation is on track to slow to the target range of 6-8 percent in January or February after reaching 8.5 percent in the whole of 2016, the central bank said in a statement.

The likelihood of further monetary easing will grow as long as factors that could boost inflation and global market uncertainties run out of steam, the central bank said.

Concerns that price growth could pick up in late 2016 had not materialised, and inflation expectations among households are now on the ebb, the central bank said. (Reporting by Mariya Gordeyeva; Writing by Andrey Ostroukh; Editing by Alexander Winning)

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