ASTANA, Kazakhstan, July 10. Analysts from the Dutch ING expect Kazakhstan to gradually reduce its base rate in 2023 to 15 percent in the fourth quarter of 2023, Trend reports.
According to ING's forecast, the interest rate will decrease to 16 percent in the third quarter.
It is expected that this trend will continue into 2024, with a projected rate of 14 percent in the first quarter of 2024. Further reductions to 13 and 12 percent are expected in the second and third quarters of 2024, respectively.
Analysts also predict that the rate will decrease to 11 percent by the end of 2024, with a further decrease to 9 percent in the fourth quarter of 2025.
On July 5, 2023, the National Bank of Kazakhstan kept the base rate unchanged at 16.75 percent.
ING Group is a Dutch multinational corporation that provides banking and financial services, with its headquarters in Amsterdam. Its main areas of activity include retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services.