National Bank of Kazakhstan

Monetary policy

What is monetary policy?

The National Bank’s monetary policy is a set of measures aimed at regulating the value of money in the economy in order to ensure price stability. Achieving a stable inflation in the medium term is a fundamental factor for sustained economic growth.

The primary objective of the monetary policy

The goal of the National Bank's monetary policy is to keep inflation within the established targets.

The medium-term inflation target is set at 3-4%. In order to ensure balanced economic development, the National Bank strives to gradually reduce inflation to this level. For this, the targets have been set as follows:

  • for 2021-2022 - 4-6%;
  • for 2023-2024 - 4-5%;
  • from 2025 - 3-4%.

Decision Making Calendar

In 2022, decisions about the base rate will be announced on the following dates

at 3.00 pm Astana time:

  • January 24
  • March 9
  • April 25
  • June 6
  • July 25

at 2.00 pm Astana time:

  • September 5
  • October 26
  • December 5
To the top