The Uzbekistan interest rate will be cut, the Chair of the Central Bank, Mamarizo Nurmurodov said at a press conference on the main axes of monetary policy for 2020-2022.
“In recent years, the interest rate in Uzbekistan has not been cut. It kept going up I think in 6 months it will go down. This will have a positive impact on credit and depository policies,” he added.
On October 19 this year, the Board of the Central Bank decided to keep the interest rate unchanged at 16% per annum.
“Keeping the interest rate at its current level, the Central Bank will simultaneously take macro-credit control measures. Its essence is in removing imbalances in the financial market and ensuring the financial stability of the economy through limiting lending by banks,” he concluded.