NBK raised the base rate by 50 bps to 14.50% against the accelerating inflation forming beyond target levels

On July 26, the National Bank of Kazakhstan (“NBK”) decided to raise the base rate by 50 bps up to 14.50% with a corridor of ±1 pp. around the benchmark (i.e. the last resort liquidity provision via overnight repo – 15.50%, liquidity withdrawal rate – 13.50%).

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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.