Kazakhstan: National Bank reduces the annual base interest rate from November 2023

On 24 November 2023, the National Bank of Kazakhstan decided to reduce the annual base interest rate from 16.00% to 115.75% annually with the interest rate corridor of +/– 1 percentage point. The rate is effective from 27 November 2023 and is used for computing late payment interest. Before this, the rate was reduced from 16.50% to 16% as of 9 October 2023.

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