Uzbekistan's central bank keeps main interest rate unchanged at 14 percent

Fri, 25 Jun 2021

Uzbekistan's central bank keeps main interest rate unchanged at 14 percent

Xinhua
11 Jun 2021, 02:18 GMT+10

TASHKENT, June 10 (Xinhua) -- Uzbekistan's central bank has decided to keep its main interest rate unchanged at 14 percent per annum, the bank said Thursday.

"The decision was made in order to ensure a balance between achieving the forecasted inflation indicators by the end of the year and maintaining economic growth in the context of recovery of economic and investment activity," the bank said in a statement.

According to the bank, in recent months the weight of factors that may increase inflation has become relatively high, which requires accelerating measures to curb inflationary processes.

External economic conditions have been moderate for the Uzbek economy in the first five months of this year, the bank said, adding that the exchange rates of the national currencies of Uzbekistan's major trading partners (excluding Turkey) have not changed significantly since the beginning of the year.

The Uzbek central bank cut the key rate by one percentage point, to 14 percent after a slowdown in inflation in September 2020.

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