Kazakh banks reduce interest rates on short-term and medium-term deposits of legal entities in response to the weakening trend of devaluation expectations in the corporate sector. Average rate on tenge deposits for a period of 3 months to 1 year decreased from 13.2% in February 2016 to 12.4% in May of this year, media reports. Interest rates on medium-term deposits (1-5 years) stabilized at the level of 11%. As experts say, the yield on companies’ long-term deposits in the national currency for a period of more than 5 years has grown significantly over the past month from 5% to 12.4% per annum.


Photo: tengrinews.kz

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