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Almaty time 06:05
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In Kazakhstan can lower a base rate for a mortgage

2 march 2016

Yesterday, on February 25, during a meeting in the senate deputies brought up a question of unreasonably overestimated rates on the credits for purchase of housing in Kazakhstan. As an example they showed Germany where rates on a mortgage don't exceed 2 %.   The acting chairman of National Bank Oleg Smolyakov who was present at a meeting hurried to explain the reason of high percent in our country.

— Low rates locate in Germany low inflation. In  Kazakhstan inflation following the results of January made 14.4 %. Now the main objective for us is stabilization of its level and the fastest return to a corridor of 6-8 % — he declared.

Smolyakov also added that today inflation in Kazakhstan has the fading character, and by 2020 it is planned to reduce it to 4 %.
Meanwhile members of the economic block of the Ministry Cabinet of RK noted that the base rate on the credits can be reconsidered. The technical committee of Ministry of National economy will submit this question for discussion in the middle of the next month.

We will remind, at the beginning of February of this year the National bank established a base lending rate at the level of 17 %. It is possible to examine interest rates of different banks in article in more detail here


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