ALMATY- Kazakhstan's central bank kept its policy rate unchanged at 9.0% on Tuesday, saying the current balance of inflation risks left no room for monetary easing in the oil-exporting Central Asian nation.
The bank said it was ready to move "proactively" in case risks of inflation worsen significantly. The regulator also said it had cut its outlook for Kazakhstan's growth this year to 3.4% to 3.7% from up to 4.0% previously.
The bank said potential external risks included a worsening of the COVID-19 pandemic, global food price growth, sanctions against Kazakhstan's main trade partners - which include Russia and China - and oil price volatility.
The recovery of domestic consumer demand could also accelerate inflation, the bank said. The regulator will next review its policy rate on April 26, it said.
(Reporting by Olzhas Auyezov; editing by Catherine Evans, Larry King) ((olzhas.auyezov@thomsonreuters.com; +7 727 2508 500; Reuters Messaging: olzhas.auyezov.thomsonreuters.com@reuters.net))
