turanВестник университета «Туран»Bulletin of "Turan" University1562-29592959-1236Университет «Туран»10.46914/1562-2959-2021-1-4-70-76turan-2127Research ArticleЭКОНОМИКА: ИСТОРИЯ, ТЕОРИЯ, ПРАКТИКАECONOMY: HISTORY, THEORY, PRACTICEДенежно-кредитная и валютная политика Казахстана: современные проблемы и пути совершенствMonetary and exchange policy of Kazakhstan: current problems and ways of improvementАбиеваС. Н.AbievaS. N.

к.э.н.

г. Алматы

s.e.s.

Almaty

abievas@mail.ruИльясоваГ. Г.IlyasovaG. G.

преподаватель

г. Алматы

PhD student

Almaty

g-iliyasova@mail.ruКазахский национальный университет им. аль-ФарабиКазахстанKazakh national University named after al-FarabiKazakhstan202128122021047076Copyright © Абиева С.Н., Ильясова Г.Г., 20212021Абиева С.Н., Ильясова Г.Г.Abieva S.N., Ilyasova G.G.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://vestnik.turan-edu.kz/jour/article/view/2127

Национальный банк Казахстана продолжает проводить денежно-кредитную политику в соответствии с принципами инфляционного таргетирования. В рамках среднесрочной стратегии Нацбанк снизил целевой коридор инфляции на один процентный пункт в 2020 г. В связи с мировым кризисом последних лет Нацбанк поставил задачу сохранить уровень инфляции в коридоре 4–6% для стабилизации экономики. Уровень инфляции на конец 2020 г. составил 7,5%. Нацбанк поставил задачу снизить этот показатель до уровня целевого коридора 4–6% в 2021 г. Также в проведении денежно-кредитной политики Национальным банком приняты решения, оказывающие антиинфляционный эффект на среднесрочный период, то есть целевой уровень снизится на 4% в 2021 г. и далее. Сохранение денежно-кредитных условий регулятором на нейтральном уровне характеризовалось снижением краткосрочных ставок после медленной инфляции. В 2019 г. на фоне дальнейшего снижения инфляции было принято решение о повышении базовой ставки. При этом участники рынка могут расценивать кредитно-денежные условия как начало ужесточения. В Казахстане финансовый регулятор устанавливает размер ставки в зависимости от размера реальной и ожидаемой инфляции в стране, внешних факторов, определяющих состояние платежного баланса, а также с учетом необходимости поддержания экономического развития. В статье рассматриваются методы проведения денежно-кредитной и валютной политики Казахстана, а также вопросы и пути ее совершенствования.

The National Bank of Kazakhstan continues to pursue monetary policy in accordance with the principles of inflation targeting. As part of the medium-term strategy, the National Bank has reduced the target inflation corridor by one percentage point in 2020. Due to the global crisis of recent years, the National Bank has set a task to keep the inflation rate in the 4-6% corridor to stabilize the economy. The inflation rate at the end of 2020 was 7.5%. The National Bank has set a task to reduce this indicator to the level of the target corridor of 4-6% in 2021. Also, in conducting monetary policy, the National Bank has made decisions that have an anti-inflationary effect for the medium term, that is, the target level will decrease by 4% in 2021 and beyond. The preservation of monetary conditions by the regulator at a neutral level was characterized by a decrease in short-term rates after slow inflation. In 2019, against the background of a further decrease in inflation, it was decided to raise the base rate. At the same time, market participants may regard monetary conditions as the beginning of tightening. In Kazakhstan, the financial regulator sets the rate depending on the size of real and expected inflation in the country, external factors that determine the state of the balance of payments, as well as taking into account the need to maintain economic development. The article discusses the methods of conducting the monetary and monetary policy of Kazakhstan, as well as issues and ways to improve it.

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The authors declare that there are no conflicts of interest present.