The Central Bank of Uzbekistan kept its key policy rate unchanged at 14% at its June 2026 meeting, emphasizing the need to maintain tight monetary conditions. Annual inflation eased to 5.5% in May, largely reflecting the fading impact of the energy tariff increases introduced a year earlier. However, the latest tariff increases and rising transportation and production costs are expected to create short-term price pressures. Inflation is projected to reach around 6.5% by year-end, while longer-term expectations have improved. Economic activity remains strong, supported by robust growth in retail trade, services, tourism, and investment, as well as an acceleration in government spending in recent months. The economy is expected to expand by 7.0%–7.5% in 2026. Looking ahead, policy decisions will remain focused on bringing inflation back to its 5% target, safeguarding macroeconomic stability, and preserving the purchasing power of households. source: Central Bank of Uzbekistan

The benchmark interest rate in Uzbekistan was last recorded at 14 percent. Interest Rate in Uzbekistan averaged 28.25 percent from 1994 until 2026, reaching an all time high of 300.00 percent in March of 1995 and a record low of 9.00 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 June of 2026.

The benchmark interest rate in Uzbekistan was last recorded at 14 percent. 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 13.00 percent in 2027 and 12.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-18 06:00 AM Interest Rate Decision 14% 14% 14.0%
2026-04-29 06:00 AM Interest Rate Decision 14% 14% 14.0%
2026-06-17 12:00 PM Interest Rate Decision 14% 14% 14.0%
2026-07-29 06:00 AM Interest Rate Decision 14%
2026-09-16 06:00 AM Interest Rate Decision
2026-10-28 06:00 AM Interest Rate Decision


Related Last Previous Unit Reference
Deposit Interest Rate 15.00 16.30 percent Apr 2026
Foreign Exchange Reserves 70584.68 70891.93 USD Million May 2026
Interest Rate 14.00 14.00 percent Jun 2026
Lending Rate 22.00 22.30 percent Apr 2026


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 - 2026 percent Daily

News Stream
Uzbekistan Keeps Key Rate Unchanged at 14%
The Central Bank of Uzbekistan kept its key policy rate unchanged at 14% at its June 2026 meeting, emphasizing the need to maintain tight monetary conditions. Annual inflation eased to 5.5% in May, largely reflecting the fading impact of the energy tariff increases introduced a year earlier. However, the latest tariff increases and rising transportation and production costs are expected to create short-term price pressures. Inflation is projected to reach around 6.5% by year-end, while longer-term expectations have improved. Economic activity remains strong, supported by robust growth in retail trade, services, tourism, and investment, as well as an acceleration in government spending in recent months. The economy is expected to expand by 7.0%–7.5% in 2026. Looking ahead, policy decisions will remain focused on bringing inflation back to its 5% target, safeguarding macroeconomic stability, and preserving the purchasing power of households.
2026-06-17
Uzbekistan Holds Benchmark Rate at 14%
The Central Bank of Uzbekistan kept its key policy rate unchanged at 14% at its April 2026 meeting, maintaining a tight monetary stance amid persistent inflation pressures. While headline inflation eased to 7.1% in March, the pace of disinflation slowed due to persistent price pressures and external factors. Inflation is expected to moderate to 6.5% by year-end, partly due to base effects. However, policymakers cited rising external risks from geopolitical tensions, including higher oil and food prices and logistics costs, which could feed into import inflation. Meanwhile, economic activity remained strong, with GDP growing 8.7% in Q1 2026, driven by services, construction, and trade. Investment inflows, including FDI, continue to support growth, prompting a revision of the 2026 forecast to 7–7.5%. The central bank signaled it will maintain tight conditions to anchor expectations and stands ready to tighten further if inflation risks intensify.
2026-04-29
Uzbekistan Leaves Key Rate Unchanged at 14%
The Central Bank of Uzbekistan kept its key interest rate unchanged at 14% during its March 2026 meeting, signaling a cautious stance amid persistent inflation. Policymakers noted that the recent decline in headline inflation has slowed, with the rate holding broadly steady at 7.3% in February due to rising food prices, while core inflation has begun to trend upward, reaching 6.3%. Economic activity also remained robust, supported by strong aggregate demand. Additionally, rising geopolitical tensions pose upside risks to inflation, as disruptions to global supply chains could drive up energy and food prices, while shifts in logistics routes may increase transportation costs. Thus, the central bank deemed it necessary to maintain a restrictive monetary policy to ensure price stability and anchor inflation expectations. The Board also signaled that policy could be tightened further if these risks materialize and delay progress toward the inflation target.
2026-03-18