Kazakhstan’s central bank held interest rates at 16.5% during its policy meeting on Friday. The bank noted that inflation has accelerated but remains within the forecasted range of 10.0-12.0%, and that non-food CPI and services prices have moderated recently. Further, the committee saw a high probability of interest rates being held during the upcoming meetings. Finally, President Tokayev announced economic growth in Q1 2025 was 5.8%, up from 4.8% in the previous quarter.