Uzbekistan’s central bank announced on Thursday that the interest rate would remain at 14%.
The Central Bank of Uzbekistan said: “This decision aims to ensure that monetary conditions are constructive in order to further slow price growth.”
This decision comes with a desire to awaken the positive impact of last March’s rate cut on continued demand growth and balanced supply.
The Bank expected GDP growth to increase by a larger proportion during 2023.
The bank also expected inflation to be between 8.5% and 9.5%.
The next central bank meeting is scheduled for June 15.
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