"We will orient ourselves towards certain inflation targets in the mid-term, as well as towards financial stability," Kelimbetov said.
As well as the pressure from the weak rouble, driven lower by depressed oil prices and Western sanctions imposed on Moscow due to its role in the war in Ukraine, the tenge has also been under the cosh from declines in other currencies in the region.
Neighbouring China devalued its yuan last week, causing a rout in many other emerging market currencies. On Wednesday another, smaller trading partner, Vietnam, devalued its dong.
The government may trim its budget spending due to lean revenues this year, Masimov said. He said next year the cabinet would not borrow on foreign capital markets to bridge the fiscal gap.
But the government also had no plans to open the "rainy day" National Fund, which collects windfall oil export cash and is now worth $69 billion.
"We think the worst times may yet come, and we will need the National Fund then," he said.