Tashkent, Uzbekistan, Apr. 25
By Demir Azizov- Trend:
The Board of the Central Bank of Uzbekistan adopted a decision on keeping the refinancing rate at nine percent per annum, the bank's press service reported.
Maintaining the refinancing rate at this level will allow continuing to retain the inflation rate within the targets and, at the same time, creating a favorable financial and investment conditions to achieve economic growth projected for the current year, according to the bank's message.
As it was previously reported, the refinancing rate was reduced by the central bank from 10 to nine percent from Jan. 1, 2015.
Uzbekistan, since 2000, has applied the floating rate of refinancing, corrected depending on the dynamics of inflation, demand and supply in the money market.
From July 2006 to January 2011, the rate remained at 14 percent, and in 2011-2013 it was at 12 percent. In early 2014, the central bank set the refinancing rate at 10 percent per annum.
Uzbekistan's government plans to keep in 2015 the inflation at 5.5-6.5 percent.