Uzbekistan maintains rate to ensure inflation slows
The Central Bank of the Republic of Uzbekistan (CBU) lowered its base rate twice last year (April and September) by a total of 200 basis points to support economic activity during the COVID-19 pandemic and since then inflation has trended lower, from over 14 percent mid-2020 to 10.9 percent in March.
And while 12-month inflationary expectations have trended lower and are now 15.5 percent for the general population and 15.9 percent by businesses, CBU said they remain higher than actual inflation.
CBU maintained its forecast for inflation to end this year between 9.0 and 10.0 percent.
At the start of 2020, the central bank began transitioning to an inflation targeting regime, with the aim of lowering inflation to 10 percent in 2021 and then 5 percent in 2023.
Source: http://www.centralbanknews.info/2021/04/uzbekistan-maintains-rate-to-ensure.html
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