Central Bank of Uzbekistan to strengthen analysis of inflation processes
Baku, Azerbaijan, Dec. 29
By Nigar Guliyeva – Trend:
The Central Bank of Uzbekistan in 2018 will strengthen its work on analysis of inflation and liquidity in the banking sector, reads a statement of the Central Bank of Uzbekistan on the main directions of monetary policy for 2018, published on Dec.29.
"The transition in the medium term to inflation targeting leads to the strengthening and consistent improvement of the analytical and forecast potential of the Central Bank in 2018," reads the statement.
The Central Bank notes that in particular, next year the work will be strengthened to analyze factors of inflation and liquidity in the banking sector, introduce modern methods of balance of payments statistics, improve the tools for forecasting and modeling the main macroeconomic and monetary indicators.
Furthermore, to ensure a broad study of inflation risks, development and implementation of monetary policy, next year a purposeful work will be conducted to evaluate and analyze inflation expectations in the economy.
"For the detailed study of the process of price formation in the economy, including early detection of inflation risks due to non-monetary factors and reducing their impact on price stability, it is envisaged to improve the practice of interaction with the Government," the statement said.
The Central Bank notes that the rate of inflation in 2018, as in the current year, will be high - at 11.5-13.5 percent on an annual basis. In 2018, Uzbekistan's economic growth rate will be 5.5-6 percent.