Five of eight analysts polled this week said they saw the rate rising by 50 to 100 basis points, with three forecasting no change from the current 16.0%.
Annual inflation in the oil-exporting central Asian nation rose to 19.6% in November from 18.8% in October.
The bank already hiked the rate by 150 basis points on Oct. 26 and signalled at the time further tightening was possible.
"...Inflationary expectations in Kazakhstan are on a sustained upwards trend," said Yevgeny Vinokurov, an analyst at the Eurasian Development Bank.
"In these conditions we think it is possible that the National Bank will raise the base rate by 50 bp to 16.5% at the December meeting."
