|
Kazakhs cut interest rate
|
|
|
Posted on
Jun 27 2008 5:39 AM
by
adeal
|
Kazakhstan's central bank lowered the reserve ratio for commercial banks and cut the benchmark interest rate to help ease a credit squeeze threatening its economic boom. The reserve requirement for lenders will fall by 1 percentage point, starting on July 29, to free up 90 billion tenge ($745 million) in new lending, the Almaty-based bank said in a statement Wednesday. The bank also reduced the refinancing rate to 10.5 percent from 11 percent effective July 1.
|
|
No comment found for this blog
|
|