New data Interest Rate Decision
11/29/2024
actual 15.25, previous 14.25
On November 29, 2024, at 07:00, there was an "Interest Rate Decision" event in Kazakhstan (country code: KZ) affecting the Kazakhstani Tenge (currency code: KZT). The actual interest rate announced was 15.25%, which was an increase of 1% from the previous rate of 14.25%. The market had estimated the interest rate to be 14.25%, so the actual rate was higher than expected, indicating a more hawkish stance by the central bank.This event had a low impact on the market, as indicated by the impact level. The 1% increase in the interest rate represents a 7.018% change from the previous rate. An interest rate hike can attract foreign investment due to higher returns on savings and investments in that currency, but it can also lead to higher borrowing costs for businesses and consumers, potentially slowing down economic growth.
This is not investment advice. Remember to verify the information provided here.
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