BAKU, Azerbaijan, April 21. The Board of the Central Bank of Uzbekistan decided to leave the main rate unchanged at the level of 17 percent per annum, Trend reports via the bank.
According to the bank, changes in external economic conditions in March had a positive impact on the domestic foreign exchange market, inflation and devaluation expectations, and the dynamics of bank deposits.
At the same time, measures to tighten monetary conditions and ensure stability in the foreign exchange market serve to reduce emerging pressure and balance trends in the foreign exchange and money markets since the second half of March, the bank noted.
Previously, on March 17, 2022 the main rate of the Central bank of Uzbekistan was increased by 3 percent and set at 17 percent per annum.
This measure was taken in order to ensure macroeconomic and financial stability in the country, by preventing the growth of devaluation and inflationary expectations, maintaining savings activity in the national currency and mitigating the impact of external risks on economy.
The last time the main rate was changed in September 2020. Then the Central Bank reduced it by 1 percent, from 15 percent to 14 percent.
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