Kazakhstani Banks Begin Widespread Cuts to Deposit Rates
Summary
In August, 11 banks in Kazakhstan lowered deposit interest rates, with further declines expected.
Prepared by the newsroom with AI assistance; the original link is always provided
Commercial banks in Kazakhstan have started reducing yields on retail deposits. During August, 11 financial institutions cut their deposit interest rates across various savings products.
This downward adjustment comes amid recent policy actions by the National Bank of Kazakhstan, which market participants suggest may lead to further rate cuts in the near term.
Source: inbusiness.kz
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