Renaissance Capital updates Kazakh inflation projection

BAKU, Azerbaijan, The peak of inflation in Kazakhstan will be recorded in January and February 2023, Trend reports, referring to the forecast of Renaissance Capital investment banking company.


Renaissance Capital is one of the leading investment banks in emerging frontiers with a special focus on Russia & CIS, Central & Eastern Europe, Africa, and MENA.


The company projects a significant reduction in inflation by the end of the year. Renaissance Capital experts expect to see inflation in Kazakhstan at around 8 percent in 4Q2023.


Earlier, the company projected Kazakhstan’s high inflation to start decreasing in 1Q2023 and drop below 10 percent in 4Q2023. As a consequence, the bank revealed the expected reduction of the policy rate.


Currently, the National Bank of Kazakhstan indicates that inflation in Kazakhstan amounts to 20.7 percent. The base interest rate is set at 16.75 percent.


Source: TREND News Agency