RTTNews - Wednesday, Kazakhstan's central bank lowered its refinancing rate by 50 basis points to 8.5% from 9% to shore-up the crisis-hit economy.

The central bank cut the rate for the second month in a row in June. In May, the bank had reduced the rate by half a percent to 9%.

The bank said inflation was the key factor behind the rate cut decision. The country's inflation eased to 8.4% in May from 8.8% in April.

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