Kazakhstan NBK base rate (базовая ставка)
Kazakhstan NBK base rate (базовая ставка) is 16.75 percent, in force since 24 Jul 2026. It was 17 percent before that. Last checked against the official source on 11 Sep 2026.
The National Bank of Kazakhstan base rate — the key monetary policy instrument, an indicative target for short-term interbank rates (operationally tracked against TONIA, the KASE one-day auto-repo rate), set by the Monetary Policy Committee (Комитет по денежно-кредитной политике) with an interest-rate corridor of +/- 1 percentage point. Decided eight times a year on a published schedule.
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| Current value | 16.75 percent |
|---|---|
| In force from | 2026-07-24 |
| Official source | Национальный Банк Республики Казахстан — пресс-релиз от 24.07.2026 «О снижении базовой ставки до 16,75%»: «Комитет по денежно-кредитной политике Национального Банка Республики Казахстан принял решение установить базовую ставку на уровне 16,75% годовых с коридором +/- 1 п.п.» |
| Last verified | 2026-09-11 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
SECOND cut of the current easing cycle — the common assumption warned not to assume direction, and the direction is DOWN, not up. Peak of the cycle was 18.0% (10 Oct 2025 – 4 Jun 2026); cut to 17.00% on 5 Jun 2026 and to 16.75% on 24 Jul 2026. The Committee cites annual inflation falling for a ninth consecutive month (June 2026: 10.3%, May: 10.4%; food 10.4%, non-food 11.7%, services 9.0%; MoM June +0.8%) and describes the move as a proportional easing of monetary conditions rather than a pre-committed path — the release states explicitly that the NBK sets no predetermined base-rate trajectory and allows both pauses and reversals. Corridor +/- 1.00 pp, so the standing-facility band is 15.75%–17.75%. EFFECTIVE DATE TRAP: NBK base-rate press releases carry no 'вступает в силу' clause and no separate commencement date — the rate is announced at 12:00 Astana time on the decision date and applies from that date; effective_from here is therefore the decision/announcement date, which is the same convention the NBK's own chronology uses. Next scheduled decision: 4 September 2026 at 12:00 Astana time. Do not confuse the base rate with the official refinancing rate references in older statutes, or with TONIA (the market rate the base rate targets). Decision schedule: https://nationalbank.kz/ru/news/grafik-prinyatiya-resheniy-po-bazovoy-stavke Next base-rate decision is pre-scheduled for 04.09.2026 (NBK events calendar; announcements ~12:00 Astana time). Base-rate releases have a dedicated rubric at /ru/news/press-relizy/rubrics/2275 - a cleaner watch target than the churning home page.
Earlier values
| From | Value | Source |
|---|---|---|
| 2026-06-05 | 17 | НБРК — пресс-релиз от 05.06.2026 «О снижении базовой ставки… |
| 2025-10-10 | 18 | НБРК — пресс-релиз от 10.10.2025 «О повышении базовой… |
| 2025-03-07 | 16.5 | НБРК — пресс-релиз от 07.03.2025 «О повышении базовой… |
Get it programmatically
curl https://asiaref.dev/v1/kz/policy-rate
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://asiaref.dev/v1/kz/policy-rate/history?from=2020-01-01
# Provenance: curl https://asiaref.dev/provenance/kz/policy-rateOther Kazakhstan series: VAT standard rate (НДС) · VAT registration threshold · Minimum monthly wage (МЗП) · Public holidays · CPI inflation (year-on-year) · Corporate income tax standard rate (КПН) · Withholding tax rates · Statutory default penalty (законная неустойка, ГК РК ст. 353) · Personal income tax rates (ИПН) · Statutory social-insurance contributions · NBK official exchange rates
The same figure elsewhere: Kuwait · Malaysia · Nepal · Oman · Pakistan · all 28