The National Bank is working on the elaboration of a conceptually new monetary policy , Kazakhstan Today reports. 

“Currently, the National Bank is working on execution orders of the head of state in the field of monetary policy. Firstly- to develop a conceptually new monetary policy, which will include the provision of tenge liquidity to stimulate lending and the economy,” – Kairat Kelimbetov, the Chairman of the National Bank of Kazakhstan said in briefing STSK.

“We are studying the possibility in the medium term to move to inflation targeting principles that will ensure the implementation of measures to reduce inflation to 3-4%,” K. Kelimbetov added.

Also, during the speech, the head of the National Bank said that the main objective of monetary policy is price stability.

He said that the National Bank began to elaborate a package of measures to reduce the dollarization of the economy. “I think we will adopt such a program in the near future. I would also like to say that the situation in the banking sector remains stable”, the head of the National Bank said.