Reported about 10 hours ago
Kazakhstan's National Bank has raised interest rates to 15.25% for the first time since 2022 amid concerns over a weakening tenge and rising inflation. The central bank intervened in currency markets to support the national currency, which had recently hit its lowest level since March 2022. The bank aims to stabilize inflation, now forecasted to reach 6.5%-8.5% in 2025, and has adjusted GDP growth estimates downward for the same year.
Source: YAHOO