BAKU, Azerbaijan, January 13. Kazakhstan expects inflation peak to be recorded in February, Galymzhan Pirmatov, the Governor of the National Bank of Kazakhstan, said,Trend reports, citing Kazakh media.
According to the governor, the inflation peak will be registered in February, subject to the lack of any new shocks. The level of inflation is expected to subside starting in March.
The National Bank governor also explained that it is too early to reduce the base rate.
“To start lowering the base rate, we need to achieve a stable downward trend in inflation and inflation expectations. In the absence of new shocks, when these conditions are reached, we can reduce the base rate”, Pirmatov noted.
Earlier today, the National Bank of Kazakhstan kept the base rate at the level of 16.75 percent.