The National Bank of Kazakhstan reduced its base interest rate to 16.25% on September 4th, responding to a decrease in annual inflation which dropped below 10% following eleven months of declining inflationary pressure. This move marks a further easing of monetary policy, yet the central bank cautioned that significant inflationary risks still exist. Despite the positive trend, the regulator signaled limited capacity for additional rate cuts in the near future. The balance of risks is currently assessed as leaning towards continued inflation. This decision reflects the bank’s effort to balance supporting economic growth with maintaining price stability. The rate cut aims to stimulate economic activity while carefully monitoring potential inflationary pressures.