AKIPRESS.COM - The National Bank of Kazakhstan has kept its key  rate unchanged at 16.75%.

Global inflationary pressure remains high despite the slowdown of inflation in some countries, the National Bank said.

Annual and monthly inflation in Kazakhstan slowed in March as expected.

Domestic pro-inflationary factors remain and are beginning to be realized in the form of an increase in government spending and the start of reforms on the fuel and lubricants market and in the housing and utilities sector.

The overall balance of factors continues to favor keeping the key rate at the current level for the first half of 2023 in order to bring down inflation in the medium term, the central bank said.

"Future actions on the key rate will depend on the updated forecast in May taking into account new data, including the parameters of reforms on the fuel and lubricants market and in the housing and utilities sector," the Bank said.