Kazakhstan cenbank expected to continue policy tightening: Reuters poll -Breaking
ALMATY, Reuters – Kazakhstan’s central banking looks set to raise its policy rate by 25-50bas points Monday, as inflation continues to rise. A Reuters poll revealed this on Friday.
Three out of eight analysts polled this week by Reuters said that they expect a 10% increase – or 25 base points – in rates from 9.75%. Two analysts predicted a 50-bps rise, while three analysts stated the bank would hold its rate until the December 6th meeting.
The bank increased the policy rate 25 basis points at its October policy meeting.
The annual inflation rate in Central Asia’s energy-producing republic, 8.7%, fell to November from 8.9% one month prior. However it remained above the 4-6% target.
Aibek Burabayev (deputy director for financial markets, ICBC Almaty) stated that there was a delay in the effect of inflation policy rates.
“This could cause the regulator to speed up rate increases next year. They will likely raise the rate to 10.50% by January, I believe.”
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