The Central Bank of Uzbekistan left its key policy rate unchanged at 14% during its July 2026 meeting, maintaining a tight monetary stance to bring inflation to its 5% target amid strong domestic demand and persistent price pressures. Annual inflation accelerated to 6.4% in June, driven mainly by higher regulated energy tariffs and the liberalization of coal prices, while core inflation held steady at 5.7%. The central bank kept its 2026 inflation forecast unchanged at 6.5%, citing strong domestic demand, second-round effects of tariff adjustments, and external uncertainties. Meanwhile, the economy remained resilient, with GDP expanding 8.5% in the first half of the year, supported by robust consumer activity, investment demand, and foreign direct investment inflows. The central bank reiterated that current monetary conditions remain sufficiently tight to curb inflationary pressures and inflation expectations while continuing to shape monetary conditions to ensure price stability. source: Central Bank of Uzbekistan

The benchmark interest rate in Uzbekistan was last recorded at 14 percent. Interest Rate in Uzbekistan averaged 28.21 percent from 1994 until 2026, reaching an all time high of 300.00 percent in March of 1995 and a record low of 9.00 percent in January of 2015. This page provides the latest reported value for - Uzbekistan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Uzbekistan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.

The benchmark interest rate in Uzbekistan was last recorded at 14 percent. Interest Rate in Uzbekistan is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uzbekistan Interest Rate is projected to trend around 13.00 percent in 2027 and 12.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-29 06:00 AM Interest Rate Decision 14% 14% 14.0%
2026-06-17 12:00 PM Interest Rate Decision 14% 14% 14.0%
2026-07-29 06:20 AM Interest Rate Decision 14% 14% 14.0%
2026-09-16 06:00 AM Interest Rate Decision 14%
2026-10-28 06:00 AM Interest Rate Decision
2026-12-16 06:00 AM Interest Rate Decision


Related Last Previous Unit Reference
Deposit Interest Rate 15.00 16.30 percent Apr 2026
Foreign Exchange Reserves 63757.00 70584.68 USD Million Jun 2026
Interest Rate 14.00 14.00 percent Jul 2026
Lending Rate 22.00 22.30 percent Apr 2026


Uzbekistan Interest Rate
In Uzbekistan, interest rate decisions are taken by the Central Bank of Uzbekistan. The official interest rate is the Refinancing Rate.
Actual Previous Highest Lowest Dates Unit Frequency
14.00 14.00 300.00 9.00 1994 - 2026 percent Daily

News Stream
Uzbekistan Holds Benchmark Rate at 14%
The Central Bank of Uzbekistan left its key policy rate unchanged at 14% during its July 2026 meeting, maintaining a tight monetary stance to bring inflation to its 5% target amid strong domestic demand and persistent price pressures. Annual inflation accelerated to 6.4% in June, driven mainly by higher regulated energy tariffs and the liberalization of coal prices, while core inflation held steady at 5.7%. The central bank kept its 2026 inflation forecast unchanged at 6.5%, citing strong domestic demand, second-round effects of tariff adjustments, and external uncertainties. Meanwhile, the economy remained resilient, with GDP expanding 8.5% in the first half of the year, supported by robust consumer activity, investment demand, and foreign direct investment inflows. The central bank reiterated that current monetary conditions remain sufficiently tight to curb inflationary pressures and inflation expectations while continuing to shape monetary conditions to ensure price stability.
2026-07-29
Uzbekistan Keeps Key Rate Unchanged at 14%
The Central Bank of Uzbekistan kept its key policy rate unchanged at 14% at its June 2026 meeting, emphasizing the need to maintain tight monetary conditions. Annual inflation eased to 5.5% in May, largely reflecting the fading impact of the energy tariff increases introduced a year earlier. However, the latest tariff increases and rising transportation and production costs are expected to create short-term price pressures. Inflation is projected to reach around 6.5% by year-end, while longer-term expectations have improved. Economic activity remains strong, supported by robust growth in retail trade, services, tourism, and investment, as well as an acceleration in government spending in recent months. The economy is expected to expand by 7.0%–7.5% in 2026. Looking ahead, policy decisions will remain focused on bringing inflation back to its 5% target, safeguarding macroeconomic stability, and preserving the purchasing power of households.
2026-06-17
Uzbekistan Holds Benchmark Rate at 14%
The Central Bank of Uzbekistan kept its key policy rate unchanged at 14% at its April 2026 meeting, maintaining a tight monetary stance amid persistent inflation pressures. While headline inflation eased to 7.1% in March, the pace of disinflation slowed due to persistent price pressures and external factors. Inflation is expected to moderate to 6.5% by year-end, partly due to base effects. However, policymakers cited rising external risks from geopolitical tensions, including higher oil and food prices and logistics costs, which could feed into import inflation. Meanwhile, economic activity remained strong, with GDP growing 8.7% in Q1 2026, driven by services, construction, and trade. Investment inflows, including FDI, continue to support growth, prompting a revision of the 2026 forecast to 7–7.5%. The central bank signaled it will maintain tight conditions to anchor expectations and stands ready to tighten further if inflation risks intensify.
2026-04-29