Central Bank keeps key rate at 14% per annum

As of September, annual inflation stood at 6.4%. The regulator noted a decline in inflation expectations among the population and businesses but warned of risks associated with fluctuations in global food and energy prices.

The Central Bank raised its economic growth forecast for Uzbekistan in 2026 to 8%. Meanwhile, inflation by the end of the year, according to the regulator’s estimate, will be around 7%, and by the end of 2027, it may decrease to the target level of 5%.

Further decisions on the key rate will depend on inflation dynamics, domestic demand, and external economic risks.