The benchmark interest rate in Uzbekistan was last recorded at 14 percent.

Interest Rate in Uzbekistan averaged 31.22 percent from 1994 until 2020, 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 October of 2020.

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. Looking forward, we estimate Interest Rate in Uzbekistan to stand at 14.00 in 12 months time. In the long-term, the Uzbekistan Interest Rate is projected to trend around 14.00 percent in 2021 and 15.00 percent in 2022, according to our econometric models.

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Uzbekistan Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
14.00 14.00 300.00 9.00 1994 - 2020 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2020-04-15 12:00 AM 15% 16% 15%
2020-06-11 09:00 AM 15% 15%
2020-07-23 08:40 AM 15% 15% 15%
2020-09-10 08:20 AM 14% 15% 12.5%
2020-10-22 09:00 AM 14% 14%

News Stream
Uzbekistan Cuts Key Interest Rate to 14%
The Central Bank of Uzbekistan cut its benchmark refinancing rate by 100 bps to 14 percent during its September 2020 meeting. Policymakers noted that the inflation rate slowed notably to 11.7 percent in August from 14.4 percent in July. The Committee said that economic recovery is expected to be gradual as the coronavirus restrictions ease, still the return to the pre-crisis level will be more protracted in time. The board added that it will take all necessary measures along with the government to achieve the constant inflation target of 5% by 2023.
Uzbekistan Holds Policy Interest Rate at 15%
The Central Bank of Uzbekistan held its benchmark refinancing rate at 15 percent during its July meeting, as policymakers want to see a steady trend towards lower inflation before easing its monetary policy. The country's inflation rate stood at 14.2 percent in June, above the central bank's forecast of 11.0 percent to 12.5 percent. Still, policymakers said they would consider slashing interest rates later this year, to support the economy hit by the coronavirus pandemic.
Uzbekistan Holds Key Interest Rate Steady at 15%
The Central Bank of Uzbekistan kept its benchmark interest rate unchanged at 15% during its May 2020 meeting, after slashing it by 100 bps at an emergency meeting in April. Policymakers said that a more stable trend towards lower inflation is needed before easing the monetary policy. The full-year inflation forecast of 11% to 12.5% was maintained, despite the recent slowdown in monthly inflation, amid risks on both supply and demand sides. It was also noted that domestic activity started recovering from the coronavirus pandemic. Looking forward, the bank mentioned the possibility of rate cuts later this year depending on inflation outlook and said that will continue to take all necessary measures together with the Government to achieve a constant inflation target of 5% by 2023.
Uzbekistan Axes Key Interest Rate to 15%
The Central Bank of Uzbekistan slashed its benchmark interest rate by 100 bps to 15% at an emergency meeting held in April of 2020. Policymakers said that the decision reflected a downward adjustment in its inflation outlook for 2020 amid the slowdown in economic activity caused by the novel coronavirus pandemic. The bank noted that inflation was falling faster than the initial forecasts, reaching 13.6 percent in March; and expects it to move down further to around 11-12.5% by the end of 2020, on the back of easing demand pressure. Then, inflation is seen decreasing towards 5% by the end of 2023.

Uzbekistan Interest Rate
In Uzbekistan, interest rate decisions are taken by the Central Bank of Uzbekistan. The official interest rate is the Refinancing Rate.