Thursday, 27 June 2019 04:16 GMT

Uzbek central bank keeps refinancing rate at 16 pct

(MENAFN) The Board of Uzbekistan's central bank has agreed to keep its refinancing rate the same at the level of 16 percent yearly, the bank emphasized on Saturday.

This decision was made based on the requirement to maintain the present conditions of monetary policy meant at limitation the inflationary process and uniting the decreasing trend of inflation expectations, the regulator stated.

Uzbekistan's economic growth would inncrease to 5.2 percent and inflation would slow to 16 percent in 2019, the Asian Development Bank (ADB) affirmed in a report issued earlier this month.

However, the country's economy remains challenged by persistent credit growth, inflation and a widening present account deficit, according to the ADB.


Uzbek central bank keeps refinancing rate at 16 pct

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