The main rate of the Central Bank remained at the level of 14%

At a meeting held on July 29, the Board of the Central Bank of Uzbekistan decided to keep the base rate unchanged, at 14%, with the expansion of the interest rate corridor to +/- 2 percentage points in order to ensure a balance between reaching the inflation forecast for this year and supporting economic activity amid growing inflationary risks and aggravation of the situation with the pandemic, the press service of the Central Bank said.

The decision was made taking into account the fact that a faster-than-expected recovery in economic activity and aggregate demand, a significant increase in the volume of financial resources directed to the economy, heightened inflationary expectations and inflationary risks associated with food supply require maintaining the current monetary conditions. with some changes in monetary instruments. the message says.