Abstract: In 2014,the central bank of kazakhstan began to transform its monetary policy framework and the federal reserve gradually withdrew from quantitative easing,which tested the ability of the central Banks of developing countries to adjust their monetary policies and match the specific national conditions.Kazakhstan is faced with both lowering domestic inflation and enhancing the degree of financial deepening.In this context,this paper analyzes and explains the impact of Kazakhstan’s inflation targeting,the transmission mechanism,and other important policy on currency degree.Through the research found that:first,the slow process of Kazakhstan’s monetization closely related with the central bank’s policy;second,the transformation of Kazakhstan’s monetary policy will delay the process of economic monetization;Third,the setting of the monetary policy objectives and the new monetary policy framework and its transmission mechanism in Kazakhstan has inhibited the development of the country’s monetization process to some extent.

Key words: Inflation Targeting, Transmission Mechanism, Kazakhstan, Currency Degree