Uzbekistan’s Central Bank keeps base rate at 14%

The regulator explains that high prices on global commodity, food, and energy markets are continuing to exert pressure on domestic inflation through import prices, transportation, and logistics costs in the medium term.

“Although inflation continues to trend downward and the economy is showing certain signs of more balanced dynamics, the persistence of certain upside risks to inflation calls for maintaining current tight monetary conditions,” the Central Bank says.

In August, headline inflation continued decelerating and amounted to 6.2 percent. Core inflation amounted to 5.5 percent.

“At the same time, an increase in the share of goods and services with year-on-year price increases above 5 percent indicates persistent price pressures in the economy,” the statement reads.

Earlier, it was reported that the Bank of England on Thursday held its policy rate at 3.75%.