Uzbekistan's central bank cuts main rate to 15 pct

Tashkent [Uzbekistan], July 22: Uzbekistan's central bank said Thursday that it has decided to cut its main interest rate from 16 percent to 15 percent annually as the macroeconomic situation stabilizes in the country.
The stabilized situation was due to a reduction in short-term external shocks and a delay in the liberalization of regulated prices, the bank said in a statement.
"Taking into account the continuation of global inflationary processes, 'relatively tight' monetary conditions will be maintained until the end of the year in order to keep the influence of monetary factors on prices at a minimum level, to ensure the relative attractiveness of assets in the national currency," the bank said.
The bank predicts inflation at the end of the year to be around 12 to 14 percent.
Source: Xinhua