Kazakhstan’s central bank keeps policy rate unchanged at 9.25% (Adds context) ALMATY, Dec 9 (Reuters) – Kazakhstan’s central bank kept its policy rate unchanged at 9.25% on Monday, citing the need to preemptively curb expectations of higher inflation and tenge depreciation due to the widening current account gap.Describing its policy as “slightly restrictive”, the bank said it expected current account deficit to jump to 3.1% of gross domestic product next year from this year’s 2.2%.The bank said in a statement it expected economic growth in the Central Asian nation to slow to 3.8% next year from this year’s 4.2%.Annual inflation which stood at 5.4% in November could approach 6% – the ceiling of the target range – in early 2020 before slowing to 5.0-5.5% towards the end of the year, the bank said.(Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Edmund Blair and Ed Osmond) First Published: 2019-12-09 11:05:39 Updated 2019-12-09 11:22:30
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