March 16, 2020 / 3:46 AM / 20 days ago

Kazakh cenbank holds key rate, to stick to tenge free float

ALMATY, March 16 (Reuters) - Kazakhstan’s central bank kept its policy rate unchanged at 12.0% on Monday and said it would stick to a free floating exchange rate regime for the tenge.

The bank said there was now higher risk of inflation exceeding the 6% target range ceiling this year, and it has reduced its outlook for the average 2020 Brent crude price to $35 per barrel from $60 per barrel. (Reporting by Olzhas Auyezov; Editing by Himani Sarkar)

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