Kazakh cenbank head says persistent inflation warrants further tightening

2022.10.11 01:01

Kazakh cenbank head says persistent inflation warrants further tightening

Budrigannews.com – The persistence of inflation in Kazakhstan means that further monetary tightening is required, central bank governor Galymzhan Pirmatov told a government meeting on Tuesday, two weeks ahead of a scheduled policy rate review.

Kazakhstan’s annual inflation surged to a 14-year high of 17.7% in September against the background of growing government spending, supply chain disruptions and the depreciation of the local tenge currency against the Russian rouble.

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Kazakh cenbank head says persistent inflation warrants further tightening