D. Akishev presented the investment opportunities in Kazakhstan at the conference in London

In early 2016 in order to raise liquidity of the capital market, the National Bank started conducting regular placements of NBK notes. Active issuance of short-term notes including 6 and 12 month maturities by the National Bank allowed building the short-term segment of the yield curve. NBK securities issuances positively reflected on market expectations, non-residents increased their holdings.

“Moreover, to enforce the yield curve construction framework in 2016 the National Bank started selling government securities from its own portfolio. Since 2017, as a result of the joint coordinated efforts of the National Bank and the Ministry of Finance, government bonds auctions are regularly held on the Kazakhstan Stock Exchange”, noted D. Akishev.

NBK plans to further collaborate with Ministry of Finance on developing domestic securities market that is vital for yield curve construction, according to D. Akishev.

Price stability, as the main goal of the National Bank, is achieved in line with the pre-set targets. The inflation target band for this year is 5-7%. By the end of 2020, our goal is to reach levels below 4%. “In less than two years we managed to lower inflation by nearly 3 times, decreasing it from its maximum level of 17.7% in July 2016 to 6.2% in Маr 2018. Inflation expectations of the population and business society have significantly decreased and continue to decline. Since the beginning of 2018 inflation has been within the National Bank’s target band. Expected inflation declined from 7.1% at the beginning of the year to 6.0% in May”, said Mr. Akishev.