National Bank: Inflation not to exceed 6-8% by yearend

National Bank: Inflation not to exceed 6-8% by yearend

The National Bank's main objective is to keep stability of prices, Kazinform reports. Therefore, the Bank will focus its efforts on retaining inflation corridor at 6-8%, Kazinform quotes Daniyar Akishev, Chairman of the National Bank, as saying at a meeting with Senate deputies in Astana today.

 

According to him, the adjustment of the tenge rate in 2015 led to increase of inflation processes, primarily in the second half of 2015. As a result, annual inflation last year made 13.6%. In February 2016 it rose to 15.2%.

 

After a significant rise in prices in fall 2015, the inflation rate has stabilized in the past 3 months.

 

As per the NB’s estimation, in 2016, inflation will gradually damp and will reach 8% by the end of the year.

 

“The Bank’s long-term objective is to reduce inflation rate to 4% by 2020,” Akishev added.

 

Photo: kazinform