The Central Bank of Uzbekistan kept its benchmark base rate unchanged at 14% during its January of 2022 meeting, saying an accommodative monetary policy stance remained appropriate, as long as necessary to keep inflation within the target and support savings, amid uncertainties in the domestic and external economic conditions. The annual inflation was at 10 percent in 2021, within the target range. The core inflation rate also fell to 8.8 percent by the end of 2021, the lowest level in five years. Meanwhile, inflation is estimated at 9 percent in 2022. Policymakers said that the impact of high fiscal stimulus in 2021 will continue in 2022, and the economic growth rates will approach to their potential growth rate. According to preliminary data, the economy grew by 7.4 percent in 2021. source: Central Bank of Uzbekistan

Interest Rate in Uzbekistan averaged 30.50 percent from 1994 until 2022, reaching an all time high of 300 percent in March of 1995 and a record low of 9 percent in January of 2015. This page provides the latest reported value for - Uzbekistan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Uzbekistan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.

Interest Rate in Uzbekistan is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uzbekistan Interest Rate is projected to trend around 15.00 percent in 2023, according to our econometric models.

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Uzbekistan Interest Rate


Uzbekistan Interest Rate
In Uzbekistan, interest rate decisions are taken by the Central Bank of Uzbekistan. The official interest rate is the Refinancing Rate.
Actual Previous Highest Lowest Dates Unit Frequency
14.00 14.00 300.00 9.00 1994 - 2022 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2021-10-21 07:15 AM 14% 14% 14%
2021-12-09 07:05 AM 14% 14%
2022-01-20 07:30 AM 14% 14% 14%


Related Last Previous Unit Reference
Interest Rate 14.00 14.00 percent Jan/22
Foreign Exchange Reserves 35139.18 34749.41 USD Million Dec/21
Lending Rate 21.60 21.20 percent Nov/21
Deposit Interest Rate 15.80 15.20 percent Nov/21


News Stream
Uzbekistan Holds Interest Rate at 14%
The Central Bank of Uzbekistan kept its benchmark base rate unchanged at 14% during its January of 2022 meeting, saying an accommodative monetary policy stance remained appropriate, as long as necessary to keep inflation within the target and support savings, amid uncertainties in the domestic and external economic conditions. The annual inflation was at 10 percent in 2021, within the target range. The core inflation rate also fell to 8.8 percent by the end of 2021, the lowest level in five years. Meanwhile, inflation is estimated at 9 percent in 2022. Policymakers said that the impact of high fiscal stimulus in 2021 will continue in 2022, and the economic growth rates will approach to their potential growth rate. According to preliminary data, the economy grew by 7.4 percent in 2021.
2022-01-20
Uzbekistan Holds Key Rate Steady, Eyes 2022 Inflation Target
The Central Bank of Uzbekistan left its benchmark base rate unchanged at 14% at its December 9th 2021 meeting, citing persisting inflationary risks in the global and domestic economies as well as to ensure monetary conditions to achieve the 9% inflation target set for 2022. Additionally, the Board of the central bank aims to mitigate the pass-through of price hikes in basic food products and imported goods to the overall price levels in the domestic market. Inflation expectations among consumers stood at 16.5%, while businesses forecasted prices to jump by 15.6% in the year ahead, although both sides pointed to higher fuel and transportation costs, as well as the pandemic-induced supply disruptions as the main factors driving prices. Moreover, policymakers noted that following November’s 10.3% annual inflation rate, the current downward trend in the headline inflation rate increased confidence in achieving the 10% target of this year.
2021-12-09
Uzbekistan Keeps Interest Rate Unchanged at 14%
The Central Bank of Uzbekistan left its benchmark base rate unchanged at 14% at its October 21st 2021 meeting, as policymakers said the current monetary policy was supportive of achieving the year end inflation target of 10% amid strong economic growth and the persistence of inflationary pressures. Along with the improvement of the pandemic situation, the central bank noted positive trends in both external and domestic demand, which were behind the 6.9% rise in GDP during the January-September period. However, the tourism, transport, and auto manufacturing industries lagged in the recovery and were 32.4% lower compared to the first nine months of 2020. On the price front, the annual inflation rate in Uzbekistan stood at 10.8% in September, above the central bank’s baseline scenario forecast, boosted by food prices, while 12-month inflation expectations declined to 15.8% among consumers and 14.7% among businesses.
2021-10-21