Kazakhstan Unexpectedly Cuts Rates as Inflation Seen Peaking

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  • Benchmark’s decrease to 13% surprised all economists in survey
  • Inflation at fastest since 2008 as economy set for contraction

Kazakhstan’s central bank unexpectedly cut its key interest rate for the second time since introducing it last year, saying the risks of inflation accelerating further are “minimal” after it soared for 10 months to the fastest since 2008.

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