NUR-SULTAN, July 20 (Xinhua) -- The Kazakhstan National Bank or central bank Monday cut the key interest rate from 9.5 percent to 9 percent and narrowed the corridor from plus or minus 2 percentage point to 1.5 around the benchmark.
According to a central bank statement, the Kazakh economy has seen a decrease of pro-inflationary risks and a stronger recession than expected in the first half of the year. Quarantine measures taken in the second lockdown will have an additional disinflationary effect. All have contributed to the rate cut.
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