Analysts: National Bank Could Stop Lowering Base Rate

The tenge-to-dollar exchange rate has weakened by more than ten percent since the beginning of the year:
Yesterday's trading on KASE closed at 500.42; its current rate is 510-518 tenge in exchange offices.
Financial analysts caution that the drop could prompt the National Bank to stop easing monetary policy.
In its latest market review, the Association of Financiers of Kazakhstan (AFK) notes that the tenge rate has passed the "psychological mark" – 500 per dollar.
The drop occurred amid falling oil prices and the fall of the Russian ruble.
The strong weakening of the exchange rate (by 10.1% since the beginning of the year) removes from the agenda the possibility of resuming the cycle of reducing the base rate at tomorrow’s meeting of the National Bank of the Republic of Kazakhstan,
say AFK analysts.
The National Bank may intervene to support the tenge.
Original Author: Nikita Drobny
Latest news
- Aqtobe Region: Life Sentence Issued in Double Homicide and Hostage Case
- Karakalpak Court Upholds Sentence Against Activist Extradited from Kazakhstan
- Former Qazseleqorgau Officials Sentenced in Corruption Case
- Deputy Commander-in-Chief of the Russian Navy Reportedly Dies in Kursk Region
- Toqayev Sets Priorities for New Transport Minister
- Armenian Parliament Advances Bill to Nationalize Electric Networks of Armenia
- Appeal Withdrawn in Alina Serikova Case, Sentences Remain Unchanged
- Toqayev and Nazarbayev Congratulate Lukashenko on Belarus Independence Day
- Armenia: Foreign Ministry Spokesperson Reaffirms Commitment to South Caucasus Connectivity Initiative, Recalls 'Crossroads of Peace'
- SK-Pharmacy Undergoes Management Shakeup Amid Scrutiny
- Supporting Farmers and Boosting the Economy: Bektenov Reports to Toqayev on Government Progress
- Final Ruling: Court Dissolves Perizat Kairat’s Charity Foundation
- From Station Cashier to KTZ Chair: Who Now Runs Kazakhstan’s Rail Sector
- Kazakhstan to Restrict Loans for Conscripts
- Details Emerge in Corruption Case Involving Former Vice Ministers and Credit Bureau Head
- Former Armenian President Serzh Sargsyan Faces Corruption Charges
- Tensions Persist as Azerbaijan Presses Russia on AZAL Investigation
- "Off Course": Exclusive Photographic Evidence and Analysis of Drones That Crashed in Kazakhstan
- Kazakhstan Temir Joly in Debt — But Posts a Profit. How Did That Happen?
- North Kazakhstan to Use 45 Billion Tenge from Returned Assets for Water Projects