Uzbekistan's Central Bank keeps main rate at 14%

TASHKENT. Oct 26 (Interfax) - At a meeting held on Thursday, the Board of the Central Bank of Uzbekistan decided to keep its main rate unchanged at 14%, the press service of the Central Bank said.

"The current level of the main rate will serve to ensure the necessary monetary conditions for the formation of inflation within the forecast indicators by the end of the year," the statement says.

According to the regulator, inflation has been showing downward dynamics since the beginning of the year, but in Q3, it accelerated to 9.2% due to an 11% increase in food prices.

Uncertainty remains regarding the duration of current global inflationary processes. The situation with the current dynamics of inflation and exchange rates in the states comprising the main trading partners of Uzbekistan is increasing pressure on the strengthening of the real effective exchange rate of the national currency, the som, the report said.