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Central Bank of Uzbekistan retains key rate at 14%

The Board of the Central Bank of Uzbekistan expects inflation by the end of the year to be within the forecast of 8.5-9.5%, the statement says

TASHKENT, September 14. /TASS/. The Central Bank of Uzbekistan decided to maintain the main rate at 14%, the regulator's press service said on Thursday.

"The Board of the Central Bank of Uzbekistan, at a meeting on September 14, decided to maintain the key rate at 14% and expects inflation by the end of the year to be within the forecast of 8.5-9.5%," the statement says.

Maintaining the existing relatively tight monetary conditions, according to the press service, will help achieve the expected inflation indicators by minimizing the influence of pro-inflationary variables and pressure from aggregate demand produced by rising salaries.

Maintaining the main rate at its current level will create the necessary conditions for forming of inflation within the forecast until the end of the year, and is considered a necessary measure to eliminate the influence of monetary factors on prices," he press service noted.

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