Kazakhstan Plans Shift to Inflation Targeting to Support Tenge
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Kazakhstan will start laying the foundation next year for a shift to inflation targeting in the medium term and take steps to boost use of the national currency.
“Inflation targeting will make it more profitable in real terms to hold tenge savings and reduce inflationary expectations,” the Kazakh central bank and government said today in a joint statement on economic policy for next year published on the prime minister’s website. Kazakhstan seeks real economic growth of 4 percent to 5 percent next year.