The National Bank of Uzbekistan kept its benchmark base rate at 16 percent during its January meeting. At the end of 2019, inflation formed near the upper boundary of the forecast corridor while despite the slowdown in global economic growth, the conditions for economic growth over the past year remained favorable. Meantime, the bank noted the need for revising the main rate in the direction of a slight decrease. Interest Rate in Uzbekistan averaged 31.54 percent from 1994 until 2020, reaching an all time high of 300 percent in March of 1995 and a record low of 9 percent in January of 2015.
Interest Rate in Uzbekistan is expected to be 15.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Uzbekistan to stand at 15.00 in 12 months time. In the long-term, the Uzbekistan Interest Rate is projected to trend around 16.00 percent in 2020, according to our econometric models.