National Bank cut official refinancing rate to 7%
ALMATY. September 4. KAZINFORM /Daniyar Sikhimbayev/ In conformity with the Law of the Republic of Kazakhstan the board of the National Bank decreed on September 4, 2009 to fix official refinancing rate at 7% per annum. The previous index was 7.5%, Kazinform refers to the Bank's press service. Lowering the official refinancing rate is connected with reduction of annual inflation up to 6.2% in August 2009 and overall reduction of market rates on the domestic inter-bank market. The same official refinancing rate at 7% was recorded only in period from July 7 2003 to February 1, 2005.