TASHKENT, Uzbekistan, July 16. Sinar investment bank analysts expect Uzbekistan to gradually reduce its benchmark interest rate to 13 percent in 2023, Trend reports.
"At the June meeting, the Central Bank maintained the rate at 14 percent and left room for rate cuts. Inflation slowed down to 10.4 percent in May. The Central Bank notes a decrease in long-term inflation components," the bank said.
Based on the official baseline scenario, it is expected that inflation will decrease to 8.5-9.5 percent by the end of the year. Considering this, Sinar anticipates that the Central Bank of Uzbekistan will lower its key rate to 13 percent by the end of 2023 and to 12 percent in 2024,
Sinar investment bank is an investment banking arm of Sinar Bank PJSC. Their task is to provide ongoing wealth management support and offer clients qualified guidance in the financial world.