Uzbekistan's central bank slashed its policy rate by 100 bps to 15% on July 21st 2022 following a rate cut by the same margin in early June, bringing interest rates to the lowest level since February. The move came as policymakers sought to spur economic activity in the country, which expanded at the slowest pace in a year in Q1 of 2022, amid mounting global headwinds, including the prolonged war in Ukraine. At the same time, inflation in Uzbekistan remained manageable, staying within the central bank's target range of 12-14%. Official data showed the annual inflation rate accelerated to a near 23-month high of 12.20% in June from 10.95% in May, with food prices rising further on the back of soaring commodity prices. source: Central Bank of Uzbekistan

Interest Rate in Uzbekistan averaged 30.16 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 August 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 17.00 percent in 2023 and 16.00 percent in 2024, according to our econometric models.

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Uzbekistan Interest Rate



Related Last Previous Unit Reference
Interest Rate 15.00 15.00 percent Jul 2022
Foreign Exchange Reserves 35403.70 35900.77 USD Million May 2022
Lending Rate 21.40 21.60 percent Mar 2022
Deposit Interest Rate 16.90 16.00 percent Mar 2022

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
15.00 15.00 300.00 9.00 1994 - 2022 percent Daily

News Stream
Uzbekistan Cuts Key Rates by 100Bps to 15%
Uzbekistan's central bank slashed its policy rate by 100 bps to 15% on July 21st 2022 following a rate cut by the same margin in early June, bringing interest rates to the lowest level since February. The move came as policymakers sought to spur economic activity in the country, which expanded at the slowest pace in a year in Q1 of 2022, amid mounting global headwinds, including the prolonged war in Ukraine. At the same time, inflation in Uzbekistan remained manageable, staying within the central bank's target range of 12-14%. Official data showed the annual inflation rate accelerated to a near 23-month high of 12.20% in June from 10.95% in May, with food prices rising further on the back of soaring commodity prices.
2022-07-21
Uzbekistan Holds Interest Rate at 17%
The Central Bank of Uzbekistan kept its benchmark base rate unchanged at 17% during its April of 2022 meeting, following a 300 bps hike last month in response to the turmoil in Russian financial markets. The decision was aimed to continue supporting the economy against a backdrop of high uncertainties and tensions in the external economic environment. The bank also said it now projects full-year GDP growth at 3.5-4.5%, down from 5.5-6.5% previously, and inflation at 12-14% instead of the 8-9% forecast before the war in Ukraine. The annual inflation rose to 10.5% in March, the highest since last October, from 9.7% in the prior month and well above the target range.
2022-04-21
Uzbekistan Hikes Interest Rate to 17%
Uzbekistan's central bank raised its policy rate to 17% from 14% on March 17th 2022. The decision is aimed at mitigating the short-term negative effects of the turmoil on Russian financial markets. The Bank said it increased its intervention in the domestic foreign exchange market in the first half of March in the framework of " neutral tendencies " in order to prevent sharp fluctuations in the exchange rate and ensure the stable operation of the market. In the future, in order to ensure market stability, appropriate interventions will be implemented and measures will be taken to prevent sharp fluctuations in the national currency.
2022-03-17