Weekly Money Market Wrap
National Bank decided to raise the base rate by 50 bps to 14% amid persisting inflationary pressure
On April 25, the National Bank of Kazakhstan (“NBK”) decided to raise the base rate to the level of 14% with a corridor of ±1 pp. around the benchmark (the last resort liquidity provision via overnight repo – 15%, liquidity withdrawal rate – 13%).
Tengri Partners offers both local and international clients unlimited access to Kazakhstan’s money-market instruments including the repo market of up to 28 days, notes issued by the National Bank of Kazakhstan of up to 6-months and sovereign bonds of up to 1-year.