Baku, Azerbaijan, July 30
By Fikret Dolukhanov – Trend:
The Central Bank of Uzbekistan (CBU) left the refinancing rate unchanged at 14 percent per annum, Uzbek media reported.
“This decision is aimed at strengthening the downward trend in consumer price growth and maintaining the comparative attractiveness of deposits in the national currency amid persisting potential risks of increasing inflationary pressures during the period of structural changes,” the CBU message said.
Taking into account that the economy maintains a relatively high level of inflation expectations in the second half of the year, the Board of the CBU decided to continue the current monetary policy and keep the refinancing rate at 14 percent per annum.
The CBU will continue to monitor the actual and expected changes in monetary conditions under the influence of various factors and, accordingly, respond to the emerging inflationary risks.
The next meeting of the Board of the CBU to review the refinancing rate is scheduled for the second half of Oct. 2018.
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