Thursday, October 24, 2013

Uzbekistan holds rate steady based on inflation

    Uzbekistan's central bank held its benchmark refinancing rate steady at 12.0 percent, saying in a brief  statement that the "decision was based on the actual and expected inflation and the target parameters for monetary targets set for 2013."
    The Central Bank of the Republic of Uzbekistan has maintained its rate since January 2011.
    Uzbekistan's Gross Domestic Product expanded by 8 percent in the first half of this year from the same period last year but inflation data for this year are not readily available.
    The International Monetary Fund projects inflation at an unchanged 12.1 percent this year from last year, falling to 10.4 percent in 2014.
    The central Asian republic of Uzbekistan was previously part of the Soviet Union and gained independence in 1991.


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