TASHKENT, Jan. 16 (Xinhua) -- Uzbekistan's central bank said on Thursday that it has decided to keep the basic interest rate at 16 percent annually.
"This decision is taken due to the need to build stronger confidence in a declining forecast inflation trend, as well as the persistence of some uncertainties regarding the level of adjustment of price regulation," the central bank said in a statement.
Uzbek bank regulators said that "there is a possibility of revising the main rate in the direction of a slight decrease" in the future.
According to the Uzbek Ministry of Economy and Industry, Uzbekistan's gross domestic product grew by 5.5 percent in 2019, exceeding the projected rate of 5.4 percent, and inflation decelerated to 15.2 percent, lower than the forecast of 15.5 percent.
