National bank of Kazakhstan may change the refinancing rate in June 2008

/REUTERS, Almaty, Olzhas Auezov, June 10, 08/ - National bank of Kazakhstan may reconsider the key rate of refinancing in the end of this month for holding of the inflation rates, the head of National bank told on Tuesday. "On June 23 we'll consider the refinancing rate. Yet it is hard to say, which decision would be accepted", - Anvar Saydenov told. The refinancing rate was increased on December 1, 2007 from 11 to 9 % APR. Despite the growth of prices for foods and energy, National bank did not change the inflation prognosis, which won't exceed 10% in year 2008, Saydenov told. In year 2007 the inflation made 18.8%. "I think that the aim for reduction of the inflation lower than 10% is possible", - the head of central bank told. The inflation growth rates in January-May of current year had accelerated to 4.5% from 3.8% for the similar period of last year. "The main impact into May's inflation was brought by foods", - Saydenov told. Kazakhstan in May had introduced the ban for wheat, rice and oil products export for protection of the domestic market form the influence of world prices. [2008-06-10]