Loan issues | Base rate increased to 18%

The National Bank of Kazakhstan has raised the base rate from 16.5% to 18%. This decision affects more than just banks: loans and microloans may become more expensive, businesses may face greater difficulty obtaining financing, and part of these costs may be reflected in the prices of goods and services.

Against this backdrop, inflation in Kazakhstan is already accelerating. In September 2025, annual inflation reached 12.9%, while the cost of paid services increased noticeably.

This article explains how the increase in the base rate may affect ordinary Kazakhstanis, from borrowing costs to purchasing power and household budgets.