ALMATY (Reuters) – The persistence of inflation in Kazakhstan means that further monetary tightening is required, central bank governor Galymzhan Pirmatov told a government meeting on Tuesday, two weeks ahead of a scheduled policy rate review.
Kazakhstan’s annual inflation surged to a 14-year high of 17.7% in September against the background of growing government spending, supply chain disruptions and the depreciation of the local tenge currency against the Russian rouble.
(Reporting by Olzhas Auyezov; Editing by Shri Navaratnam)
