Fri, 26 Feb 2021

TASHKENT, Jan. 21 (Xinhua) -- Uzbekistan's central bank has decided to keep its basic rate unchanged at 14 percent amid efforts to maintain inflation targets in 2021, the deputy head of the bank said Thursday.

"This decision was made in order to create conditions for reducing inflation further and maintaining a positive level of real interest rates in the economy, as well as creating favorable preconditions for the continued recovery of economic activity," Behzod Hamroyev, deputy chairman of the bank, said during a press conference.

The central bank and the government will take all necessary measures to achieve the interim inflation target of below 10 percent by the end of the year, he said.

The bank estimates that the current "relatively tight" monetary policy is sufficient to support the projected economic growth in the first half of 2021, Hamrayev said, adding that the regulator may review its policy in the second half of the year if necessary.

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