The Central Bank of Uzbekistan kept its key interest rate unchanged at 13.5% per annum, according to a press release from the regulator.
“The decision aims to return core inflation and inflation expectations to a sustainable downward trajectory while creating sufficient conditions to achieve the 5% inflation target in the medium term,” the statement read.
The Central Bank noted that by the end of last year, the price growth for three-quarters of goods and services had slowed compared to 2023. However, core inflation in December slightly increased, rising to 7.2%.
The regulator forecasts that overall inflation will reach...