乌兹别克斯坦央行将基准利率维持在14%不变

Core Insights - Economic activity and consumer demand in Uzbekistan showed growth in the second quarter, with inflation beginning to slow down since August due to the fading low base effect from last year [1] - As of the end of August, the annual inflation rate decreased to 8.8% and the core inflation rate fell to 7.6%, prompting the central bank to maintain the benchmark interest rate at 14% [1] - The central bank anticipates that inflationary pressures may increase due to slow global inflation decline, ongoing international trade restrictions, rising food prices, and high inflation in major trading partner countries, projecting an inflation rate of approximately 8.7% by the end of 2025 [1] Monetary Policy - The central bank's relatively tight monetary policy is aimed at enhancing savings attractiveness, promoting balanced credit activity, controlling total demand within reasonable limits, and mitigating the impact of monetary factors on inflation [1] - In the short term, inflation in Uzbekistan is expected to remain at a high level, with the central bank ready to adjust monetary policy if risks escalate or price pressures exceed expectations [1] - The next meeting for adjusting the benchmark interest rate is scheduled for October 23 [1]