Uzbek Central Bank Keeps Key Interest Rate Unchanged At 15 Pct

Uzbekistan's central bank on Thursday decided to keep the key interest rate unchanged at 15 percent annually as high economic growth rates were observed over recent months

TASHKENT, (UrduPoint / Pakistan Point News - 26th Jan, 2023 ) Uzbekistan's central bank on Thursday decided to keep the key interest rate unchanged at 15 percent annually as high economic growth rates were observed over recent months.

"The current level of the policy rate is viewed as sufficient for maintaining moderately tight monetary conditions in the economy," the regulator said in a statement.

Rising prices on a wide range of goods in 2022 resulted in acceleration of annual headline inflation to 12.3 percent, according to the bank.

The bank estimates that the probability of real GDP slowdown in the first quarter of the current year is high, and by the end of 2023, the economy is projected to grow by 4.5-5 percent.