The National Bank of Kazakhstan organised a scientific and practical conference in Almaty on “Monetary policy and financial stability in the context of global and domestic shocks”, bringing together academics, National Bank analysts, other regional central banks and independent experts to discuss key challenges and trends in the global and regional economy. Conference sessions presented research on the impact of monetary policy instruments on consumer behaviour and on innovative approaches to inflation forecasting. A representative of the Central Bank of Uzbekistan highlighted work assessing FAVAR and BVAR models, with findings that their use improves the quality of short-term inflation forecasts, supporting more balanced monetary policy decisions. Another session focused on macroeconomic trends amid price shocks and structural imbalances, including risks to growth from increased dependence on raw materials, low investment activity and the role of state support measures. In total, eight research papers were presented as part of the V Scientific and Practical Conference.
National Bank of Kazakhstan 2025-04-30
National Bank of Kazakhstan convenes Almaty conference on monetary policy and financial stability amid global and domestic shocks
The National Bank of Kazakhstan hosted a conference in Almaty on "Monetary policy and financial stability in the context of global and domestic shocks," discussing monetary policy instruments, inflation forecasting, and macroeconomic trends. Key topics included the effectiveness of FAVAR and BVAR models in improving short-term inflation forecasts and the impact of price shocks and structural imbalances on growth. Eight research papers addressed challenges like raw material dependence and low investment activity.