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Kazakhstan central bank cuts policy rate

The National Bank of the Republic of Kazakhstan decided to trim its base rate to 9% with a corridor of plus or minus 1%, the bank said June 4.

The central bank said inflation has continued to decline within its target range with the medium-term target of 4% by the end of 2020.

Annual inflation stood at 6.2% in May, but the bank said factors such as higher world food prices, the import of inflation from other countries and growth of domestic consumption could slow its decline. The bank's expected annual inflation rate fell to 6% in May, following an increase to 6.3% in April.

The bank said monetary conditions remain neutral, but it could tighten them to manage inflationary expectations.