Central Bank of Uzbekistan keeps interest rate unchanged at 14% per annum

The Central Bank has kept the key rate unchanged to mitigate the impact of changing energy tariffs on inflation expectations.

Photo: Kun.uz

At the meeting of the Central Bank's Board on June 13, 2024, it was decided to leave the key rate unchanged at the annual level of 14 percent, as reported by the regulator's press service.

It is emphasized that the key rate was left unchanged to restrain the impact of energy tariff changes on inflation expectations, thus maintaining relatively strict monetary conditions.

"The presence of high aggregate demand and secondary impacts imposing inflationary risks in the economy necessitates measures to reduce inflation to a 5 percent target within the forecast horizon. The Central Bank will continue to maintain sufficiently high real interest rates in the future," says the official statement.

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